These organizations are a lot better than having nothing at all. Almost like it is the better than two evils when it comes to this subject. We can work with these organizations that already exist to continue on our work to make corporations more effective and honest what is better for them.
Corporate crime watch organizations are effective. Corporate crime organizations evaluate a companies business practices and determine whether the company is conducting business in an ethical way. Corporate crime watch organizations try to identify if companies are overcharging people for their products or whether companies are not excessively profiting off of their products.
Corporate crime watch organizations can be effective. If they know what they are doing and not get in the way of the corporation then they can in fact help a corporation from losing a lot of money. Most of the corporate crime that takes place is an inside job anyway.
Corporate crime watch organizations obviously lack the ability to bring charges against any given corporation, but they do have the ability to spot crimes and report it to law enforcement agencies like the FBI or SEC. Corporations are vastly complex and law enforcement resources are limited. Accordingly having an organization that can do the legwork to start the investigations helps to make sure that corporate crime is given its day in court.
I do not have any reason to believe that any of those corporate crime watch organizations are in the least bit effective. I think corporations do a great job of making sure that they cover up their tracks and have the best lawyers around. I have yet to see any of these corporate crime watch organizations do anything significant.