Quick Answer: What is white collar crime in criminology?

What is meant by white-collar crime?

White-collar crime is a crime committed for financial gain and consequently non-violent. The main purpose of these crimes is to obtain money, property, avoid losing existing property, or gain a personal or commercial advantage.

What is an example of a white-collar crime?

Examples of white-collar crimes include securities fraud, embezzlement, corporate fraud, and money laundering. In addition to the FBI, entities that investigate white-collar crime include the Securities and Exchange Commission (SEC), the National Association of Securities Dealers (NASD), and state authorities.

What are 5 white-collar crimes?

Typical white-collar crimes could include wage theft, fraud, bribery, Ponzi schemes, insider trading, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery.

How are white collar crimes punished?

The penalties for white-collar offenses include fines, home detention, community confinement, paying the cost of prosecution, forfeitures, restitution, supervised release, and imprisonment. Federal Sentencing Guidelines suggest longer prison sentence whenever at least one victim suffered substantial financial harm.

What causes white-collar crime?

Generally, white-collar crime is caused by greed, economic difficulty, opportunity to commit crime and situational pressure. … These crimes are on the rise due to the advent of technology and growth of education.

What are the main features of white collar crimes?

Three characteristics of white-collar crime are particularly important: (1) The offender has legitimate access to the target or victim of the crime on the basis of an occupational position; (2) the offender is spatially separated from the victim; and (3) the offender’s actions have a superficial appearance of legality.

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What are the top 3 white collar crimes?

The most common white collar crimes

  • Corporate Fraud. Also referred to as “business fraud,” corporate fraud entails crimes that are committed by organizations or individuals or groups within organizations in order for financial gain or protection. …
  • Embezzlement. …
  • Extortion.