To ascertain whether insider trading falls within the rubric of criminological study, the article analyzes two features which have been used to define criminal behavior: causation of demonstrable harm and specific legislation designed to outlaw the activity. Over the years, countries including the U.S., United Kingdom, and Australia have enacted legislation which translates concern about the harm of insider trading into substantive criminal law prohibiting such behavior. Some case studies drawn from successful civil and criminal prosecutions in the U.S. are used to round out the discussion. The case studies and the laws on insider trading make clear that, unlike other types of corporate crime, insider trading is committed by individuals motivated by personal gain. The appropriate control strategy for Australia to adopt, in the face of the huge profits that inside traders can realize, seems to be a threat of penalties that will greatly exceed the potential profit. 18 references