Black Collar Crimes And White Collar Crime

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This paper will begin by explaining what white collar crime in its introduction. The paper will then explain the distinct types of white collar crimes, after that different case study’s will be presented from the book to give examples of the diverse types of white collar crimes. After that the paper will talk about the diverse ways to combat white collar crimes while also going over the challenges law enforcement face when fighting white collar crime. Finally, the author will give his conclusion on white collar crime. Understanding White Collar Crime White Collar criminals is not something that the average thinks about when they think of crime. When people think of criminals they tend to think of drug lords, the mob,…show more content…
On the FBI’s website, they list the crimes in to three major categories. These categories are Corporate Fraud, Money Laundering, and Securities and Commodities Fraud. Corporate fraud “consists of activities undertaken by an individual or company that are done in a dishonest or illegal manner, and are designed to give an advantage to the perpetrating individual or company. Corporate fraud schemes go beyond the scope of an employee 's stated position, and are marked by their complexity and economic impact on the business, other employees and outside parties.” (investopedia.com) This include Falsification of financial information, and Self-dealing by corporate insiders. These give an unfair advantage to the individual or corporation to achieve their financial gain. The FBI defins money laundering as “the process by which criminals conceal or disguise their proceeds and Stock image of a glass globe atop a trail of money. make them appear to have come from legitimate sources.” (fbi.gov) Securities and Commodities Fraud is the broadest of the three main types of white collar crime because it encompasses the majority of white collar crime. An example of the is Ponzi schemes, these “involve the payment of purported returns to existing investors from funds contributed by new investors”. Pyramid schemes are companies that give payment to people who recruit others into the business but as time passes it becomes harder to recruit new
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