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Most theories of white-collar crime can be found along the behavioral dimension. Numerous suggestions have been presented by researchers to explain why famous people have committed financial crime. In this chapter, some of the most prominent theories are presented: differential association theory, theory of self-control and desire-for-control, slippery slope theory, and neutralization theory. Crime is not committed by systems, routines, or organizations. Crime is committed by individuals. White-collar criminals practice a deviant behavior to carry out their offenses. White-collar crime is committed by members of the privileged socioeconomic class who are using their power and influence. Offenders are typically charismatic, have a need for control, have a tendency to bully subordinates, fear losing their status and position, exhibit narcissistic tendencies, lack integrity and social conscience, have no feelings of guilt, and do not perceive themselves as criminals.

The cases of cross-border insider trading and market manipulation that have been pursued by securities regulators over the last 10 years fall within a number of broad categories. This chapter details some of the leading cases pursued by securities regulators in relation to each of these categories. In doing so, this reveals some of highly innovative ways in which securities regulators are detecting and investigating cross-border market abuse. It also demonstrates some of the significant challenges which securities regulators face going forward in their struggle to keep the markets free of market abuse.

This chapter is the conclusion and reflects upon the findings that flow from the previous chapters. It concludes that the analysis undertaken in the book reveals that the transformations to the securities markets in recent years do appear to have given rise to new avenues to engage in cross-border market manipulation and insider trading. In addition, it observes that securities regulators have taken some significant steps to improve their detection and investigative techniques and that they are steadily detecting more complex examples of these offences as a result. However, the author concludes ultimately that more can be done and as such makes some recommendations about how this might best be achieved.

This chapter discusses how combatting crime in general, and financial crime and white-collar crime in particular, is an integral part of corporate social responsibility (CSR), especially when crime finds its opportunity structure in the organization. White-collar crime originates and manifests itself in organizations. Organizations must carry responsibility for the negative impacts on society, for example when internal criminals are prosecuted and jailed at the expense of society. To take on CSR means to pay back to society. Payback is the opposite of creating costs to society. CSR is supposed to be a self-regulatory mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and national and international norms. CSR is a concept whereby companies integrate social and environmental concerns into their business operations and into the interaction with their stakeholders on a voluntary basis.