Identity Theft And White Collar Crime

Decent Essays
What do we think of when we hear the word “crime? Many times we can think of violent crime that is sensationalized on TV or in movies; however, there is another kind of crime. This kind of crime is closely correlated to businesses, executives or professionals. White collar crime may be non-violent but can severely harm its victims. White collar crime is defined as “crime committed by a person of respectability and high social status in the course of his occupation.” (para. 1). Many of these white collar crimes are committed by executives of large companies. However, some of these white collar crimes can be committed by everyday people, which can be unexpected. Identity theft is one of those white collar crimes that can be committed by an everyday person. Identity theft is obtaining the identity of another and uses that identity to commit fraud. Many times the identity theft can result in loss of money or even lines of credit run on the social security number of someone else. Imagine someone stealing your debit card number, and all of the sudden your card is declined and your bank…show more content…
According to the FBI, bankruptcy fraud is a crime in which someone or a company files for bankruptcy in order to get out of debt without paying even though that person or company has the means to do so. Bankruptcy can be used to help people with debt in times of desperation and hardship. However, it is not to be used to simply get out of debt. Bankruptcy fraud can many times incorporate other white collar crimes. While this crime may seem like it does not have a victim, that is inaccurate. Those who are owed money by those committing the fraud, will lose out, causing loss of revenue. Due to loss of revenue, the company may try to make up for it by raising costs, fees, or prices onto their new customers or
Get Access