What is a White Collar Crime?
According to the FBI, white collar crimes cost the U.S. $300 billion each year. White collar crimes are usually committed by high profile people with high social status. Instances of white collar crime commonly occur in corporate environments by top levels of management, high profile professionals, and political officials. Common white collar crimes include: fraud, bribery, embezzlement, extortion, forgery, tax evasion, and insider trading. These crimes tend to involve large sums of money that are obtained under false circumstances. Today, white collar crimes are severely prosecuted because they cause huge financial damages to the U.S. government and economy. If a person is convicted of a white collar crime, they face many consequences. Most people who are convicted of a white collar crime must pay financial restitution. Large monetary fines can keep a white collar crime offender in debt for countless years. Aside from financial damages, white collar crime offenders may face imprisonme
