First coined in 1939, white-collar crime is now synonymous with a broad range of frauds committed by government professionals and businesses. These crimes are described by concealment, deceit, or breach of trust and are not reliant on occurrence or threat of violence or physical force.
- White-collar crime is a non-violent crime that enriches its perpetrators (financially)
- These crimes include distortion of a corporation’s finances to deceive regulators and others
- A host of other crimes involve false investment opportunities in which possible returns are exaggerated, and risks are portrayed as non-existent or minimal.
There are several kinds of white-collar crimes, and some of them are listed below.
- Bribery: This is where an individual or company is offering goods, services, money, or vital information to influence the action, response, opinions, or decisions of another individual. Furthermore, if you accept the offered items, you are charged with bribery as well.
- Bank Fraud: This is the act and activity where the goal is to trick bank funds.
- Blackmail: This is an act of threatening an individual or company to do bodily injury, inflict harm on crime accusation, property and expose secrets if the company or individual does not give money in return for silence.
- Cellular Phone Fraud: This is the act of tampering, unauthorized utilization, or manipulation of a cellular phone and service. This is done through a stolen phone where the suspect is signing up on a service using cloning or false identification of a valid electronic serial number (ESN) through ESN readers and reprogramming another phone with a fair ESN number.
- Computer Fraud: This is an act where hackers steal valuable information such as Bank information, Credit card information, and Proprietary information.
- Credit Card Fraud: This is an act of utilizing credit cards without the authority to get hold of valuable items or goods.
- Currency Schemes: This is an act of future value of the currency.
- Embezzlement: This is an act of an individual who utilizes money or property that has been entrusted to him for his benefit and personal gain.
- Environmental Schemes: This is an act of billing more than necessary with fraudulent activities by corporations stating that they want to clean up the environment.
- Extortion: This is the process wherein a person obtains property illegally from another individual via actual or threatened force or violence and a well-covered official authority.
- Forgery: This is an act of submission of false documentation or worthless items and checking or counterfeiting security to defraud or inflict harm on another individual.
- Health Care Fraud: An act of providing services of a particular health care provider without proper licensing and receiving money in return for the service done.
- Insider Trading: This is an act where a person who utilizes confidential information to trade for public corporations.
- Insurance Fraud: This is an act of engaging in a pattern of activities where an individual receives the proceeds of an insurance department made through deception.
- Investment Schemes: This is an act of providing a significant return on a small amount of investment as a promise to an unsuspecting person.
