The term “ white collar crime ” was coined in 1949 by Edwin Sutherland. It is defined as: “a crime committed by a person of respectability and high social status in the course of his occupation”. However, in today’s business climate there are so many different kinds of white collar crime it can be difficult to understand what falls under that heading. Therefore, I’ve compiled a short list of examples and their definitions.
Blackmail: A demand for money or services under threat to do bodily harm, to injure property, to accuse of a crime, or to expose secrets.
Bribery: When money, goods, services, information or anything else of value is offered with intent to influence the actions, opinions, or decisions of the taker.
Computer fraud: Where computer hackers steal information sources contained on computers.
Embezz1ement: When a person who has been entrusted with money or property appropriates it for his or her own use and benefit.
Extortion: Occurs when one person illegally obtains property from another by actual or threatened force, fear, or violence, or under cover of official right.
Insider Trading: When a person uses inside, confidential, or advance information to trade in shares of publicly held corporations.
Kickback: When a person who sells an item pays back a portion of the purchase price to the buyer.
Money Laundering: The investment or transfer of money from racketeering, drug transactions or other embezzlement schemes so that it appears that its original source is legitimate.
Racketeering: The operation of an illegal business for personal profit.
Tax Evasion: When a person commits fraud in filing or paying taxes.
There are several other types of white collar crime , these are just a few examples and definitions that we should all become familiar with.
For more information about employee theft , internal theft or employee theft investigation contact us at white collar crime or call 1.770.426.0547 – Atlanta Georgia
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