What is white-collar crime?
A. White collar crime is a term originally used to describe criminal activity by members of the upper classes in connection with their professions. Today, the most common definition of white collar crime focuses less on the social status of the offender, but instead on the type of conduct involved: illegal acts using deceit and concealment to obtain money, property, or services, or to secure a business or professional advantage. White collar crimes are usually less violent than other crimes, but their effects can be just as devastating, such as in the recent Enron case.
A white-collar crime is considered a non-violent crime committed by someone that possesses respectability with a high social status in the occupation held (corporations, employees, officers, and individuals). Examples of white-collar crime include bribery, extortion, embezzlement, securities fraud, theft, bribery, insider trading, price-fixing, racketeering, and stock manipulation.
White collar crimes typically refer to a type of crime committed by business people, entrepreneurs, public officials, and professionals through deception, as opposed to street crimes which tend to involve force and violence. Examples of white-collar crimes include embezzlement, bribery, extortion, larceny, fraud (e.g., health care,tax, bankruptcy, telemarketing, insurance, and mail, securities and commodities law violations, environmental violations, price fixing, racketeering, loan sharking, black market operations, obstruction of justice and perjury, and computer fraud. Depending on whether federal or state law has been violated, white collar crimes can be prosecuted at the federal or state level. Penalties vary, but in some cases can result in large fines, restitution, and jail time.
White collar crime refers generally to nonviolent financial crimes involving fraud or other dishonesty committed in business or commercial contexts. Examples include insider trading, embezzlement and tax evasion. White collar crime is sometimes described as “paper crime” or crime that is committed in white collar workplaces as opposed to jobs in blue collar industries.
White collar crime is a term used to describe criminal conduct involving illegal acts that use deceit and concealment to obtain money, property or services, or to secure a business or professional advantage. Another way to define white collar crime is as a “paper” crime or crime that is committed in the workplace in white collar industries as opposed to blue collar industries. White collar crimes are usually not violent, but their effects can be just as devastating.
