Handbook of Global Research and Practice in Corruption
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Handbook of Global Research and Practice in Corruption

Edited by Adam Graycar and Russell G. Smith

Corruption is a global phenomenon with costs estimated to be in the trillions of dollars. This source of original research and policy analysis deals with the most important concepts and empirical evidence in foreign corrupt practices globally.
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Chapter 10: The Relationship between Corruption and Financial Crime

Nicole Leeper Piquero and Jay S. Albanese


Nicole Leeper Piquero and Jay S.Albanese INTRODUCTION The term corruption, much like the phrase white-collar crime,1 is apt to bring a stereotypical image of the offender to mind. In the case of corruption, that person is most often thought to be an individual who holds a political office, while the image of a white-collar offender usually brings to mind a wealthy high-powered business executive.2 At first glance, these two concepts seem to operate in two different worlds – where one concerns the public sector and the other the private sector. The two actually have much in common and in fact could be thought of as two sides to the same coin. The purpose of this chapter is to highlight the similarities between the two areas of study and to demonstrate that scholars working in both traditions face similar hurdles in advancing their respective research agendas. This chapter will focus on three major areas where the two fields of study, corruption and white-collar crime, share similarities. First, a definitional dilemma plagues both areas of inquiry. Much as when Justice Stewart expressed in a 1964 US Supreme Court decision (Jacobellis v. Ohio) regarding defining obscenity, ‘I know it when I see it’, the same sentiment could be expressed by scholars who study either or both white-collar crime and corruption. Everyone knows what it is when they see it but are hard pressed to be able to precisely define the respective concepts. Second, both concepts, perhaps due to the lack of a consensus...

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