Guides
- Noise Ordinances: Quiet Hours, Complaint Laws, and How to File a Noise Complaint
- What Is Harboring a Fugitive and What Are the Penalties and Jail Time for It?
- Are Written or Verbal Contracts Legally Binding and When Should You Use Each?
- When Your Driving License Can Be Revoked and What You Can Do About It?
- What Are the Hunting Laws and Permits by State in the USA?
- Is Drunk Driving a Felony, What’s the Punishment, and How Many People Die From It?
- What is Domestic Abuse vs. Domestic Violence, and What Are the Differences?
- What is a Roommate Agreement, What Are the Benefits, and What Should You Include?
- What is Public Indecency, and What Are the Laws, Charges, and Penalties?
- What Are the Pocket Knives Laws, Legal Lengths, and Rules for Illegal Types?
- What is Aiding and Abetting and What Are the Punishments and Charges for It?
- Where Can You Be Naked in Public and Celebrate National Nude Day?
- What Is Child Custody and How to File for It Without an Attorney
- What to Do if Someone Has Stolen Your Driver's License Number and How to Replace It
- What is Bail Jumping: Punishments and Jail Time for Failure to Appear in Court
- Dating a Minor: Is It Legal and What Is the Age of Consent?
- How to Conduct a Dating Profile Search and Find Someone on a Dating Site
- What is Personally Identifiable Information and Why is PII Protection Important?
- What Is a No-Fault Divorce, When Did It Start and Why It Can Be Bad
- The Differences Between Moving And Non-Moving Violations
- What are Aggravating and Mitigating Factors in a Criminal Case?
- What Is ADR: Process, Meaning And Examples
- Definition and Differences Between Conspiracy Theories and Conspiracy Charge
- How to Get a Divorce: Process, Stages and Required Papers
- Embezzlement as a White-Collar Crime: Definition, Meaning, and Examples
- What Is a Car Registration, How Much Does It Cost and How to Get One?
- Types of Email Archiving and How to Retrieve Them
- How to Protect Your Car From Theft or Report It Stolen
- How to Organize and Protect Your Personal Documents?
- How to Find and Reconnect With Old Friends: Proven Techniques That Work
- Business Records: Types, Examples and How to Search
- Right to Privacy: Is It Protected By The Constitution?
- Ownership and Tenancy in Severalty in Real Estate
- What Different Types of Marriages Are There?
- Should You Believe in Age Gap Rules Calculation
- What Is Driver’s License Status and How To Check It
- What Is Civil Marriage: Pros and Cons
- Top 5 Most Famous Serial Killers Of All Times
- What Was The Subprime Mortgage Crisis
- Most Famous Murder Cases Throughout History
- The Dynamics and Consequences of Ghosting Someone in Personal Relationships
- What is Incarceration? Definition, Process, and Impact
- What is A Mortgage-Backed Security (MBS)
- Is AI Dangerous? Unveiling the Risks of Artificial Intelligence
- What is a VPN?
- 7 Cybersecurity Threats to Look Out For
- What Are Debtors and Creditors, and What Are Their Legal Rights and Differences?
- What Are the Types of Business Ownership and How Can You Transfer It?
- What is a Tax Lien, How Does It Work & How to Stop One?
- What is the Difference Between Civil and Criminal Cases?
- Property Ownership Types You Should Know About
- Community Safety Initiatives: How to Make Your Neighborhood Safer
- What is a Lien and How Lien Priority Works?
- Campus Safety 101: Essential Tips for a Secure College Life
- How to Know If Someone Is Divorced?
- What are the CCPA and CPRA?
- How to Get Over a Breakup?
- U.S. Violent Crime Definition & Statistics
- The 5 Steps You Should Know When Adopting a Child
- What Is Criminal Profiling and Is It Really Effective?
- A Full Guide on Reasonable Suspicion vs Probable Cause
- What Is Email Encryption & How to Encrypt an Email?
- What is a White Collar Crime? A Full Guide
- Rental Scams: How Do They Work & How to Catch Scammers?
- A Complete Guide on Parole vs Probation
- How to Submit a Data Removal Request and Hide Results About You on Google Search
- A Full Guide on House Arrests
- A Complete Guide on Marriage and Civil Union
- How to Safeguard Yourself and Deal with Marriage Debt
- What is Eyewitness Testimony?
- A Full Guide on Gentrification: Why is it a Problem?
- 8 Most Dangerous Twitter Scams and How to Avoid Them
- Pretexting Attacks: Common Types and How to Deal with Them
- How Do Zelle Scams Work and Things to Look Out For
- What Is Business Email Compromise, How to Defend Against It?
- What Is a Wellness Check, What Does It Consist of and How to Call For It?
- What Is a Temporary Restraining Order and How Do You Get One?
- What is Smishing And How to Prevent it?
- Spam Emails: Types and Ways to Block Them
- Email Masking & Masked Email Addresses
- Spot a Fake QR Code & Avoid Getting Scammed
- Common NFT Scams to Look Out For & Ways to Avoid the Fake Ones
- What to Do If You Witness a Crime?
- What Is Skip Tracing and How Does It Work?
- How to Avoid Common Venmo Scams and Protect Yourself From Scammers
- Can You Get Child Custody If You Have a Criminal Record?
- Common Amazon Scams and Ways on How to Avoid Them
- How to Find Liens on a Property?
- Multiple Bankruptcies: How Often You Can File One?
- How to Adopt a Child in the US?
- I Lost My Birth Certificate. What Should I Do?
- Warning Signs of Job Scams and How to Protect Yourself
- What Is a Ban the Box Law?
- What is Expungement?
- How to Transfer Property After Death Without Will
- What Is a Police Blotter?
- How to Appeal a Parking Ticket
- What Is a Clean Driving Record, How It Affects Insurance and How to Keep It Clean
- What is Title Washing?
- What is Extortion?
- How To Run a Motorcycle Title Search
- What Is a Digital Footprint?
- What is Anti Money Laundering (AML)?
- Guide on How to Get a Death Certificate
- What is the US Equal Employment Opportunity Commission (EEOC)?
- What is Multi Factor Authentication?
- What is a Citizen's Arrest?
- How to Know that You’re in an Obsessive Relationship
- Guide to Online Survey Scams
- 13 Different Types of Police Officers
- Full Guide on Work-from-Home Scams
- Is Private Browsing Really Private?
- Different Types of Felony Classes & Charges
- What is Juice Jacking?
- What are Romance Scams?
- Traffic Offenses and Violations
- What is Doxing and How to Prevent it?
- What are Spam Text Messages
- The U.S. Death Penalty: History and Modern Usage
- What Are the Different Types of Bankruptcies and Which One Is Right for You?
- Common eBay Scams to be Aware of
- What Happens When You are Booked in Jail?
- What Information Can You Get From A License Plate
- Different Types of Assets
- How to Search and Find Family Members and Relatives Who Are Long Lost?
- Car History Guide, Benefits, Importance
- Am I Dating a Stalker?
- How to Find out if Your Partner is Cheating
- What Are the Types and Tools of Packet Sniffing Attacks?
- Intellectual Property Law and Rights
- Cyberstalking And Its Dangers
- A Guide to Phishing Scams
- What is Organized Crime?
- I’ve Lost My Driver’s License: What Should I Do?
- Misdemeanor Charges: Types, Classes, and Penalties
- A Complete Guide On Catfishing
- Vanity Phone Numbers: Why They Are Important and How to Get One
- What Happens When You Get Arrested
- Guide to Find Information About a Person Online
- How To Find And Claim Unclaimed Money
- What Happens if You Violate Probation
- Guide on How to Remove a Mugshot from the Internet
- How to Stay Safe on Public WiFi
- What Is an Outstanding Warrant and How Can You Check if You Have One?
- Different Types of Car Insurance
- What Is Cyptojacking?
- What Is Email Security?
- What Is the Deep Web and What Can Be Found There?
- What Happens When You Declare Bankruptcy
- How Divorce Settlements are Calculated
- What are Common Methods of Social Engineering
- What is the Difference Between a General Lien and a Specific Lien?
- How to Detect Odometer Rollback
- Different Types of Probation
- Finding forgotten life insurance policies
- What is Bearer Bond and Why the US Banned it
- Everything you need to know about small claims court
- Moral Turpitude: Definition, Examples, and Much More!
- Misdemeanor vs Felony
- How to Read a VIN Number and What It Tells You
- How to Find Out Who Hacked Your Cell Phone
- How Long Does a Misdemeanor Stay On Your Criminal Record?
- The Paypal Phishing Scam You Should Care to Avoid
- How Many Different Types of State License Plates Are There and Which Is the Standard One?
- Effects of Cyberbullying: Complete Guide for Parents
- What is the DPPA?
- Is Petty Theft a Misdemeanor and What Are the Consequences?
- What is a Life Sentence? Life in Prison
- Find out How to Check if Someone Has a Warrant Online for Free
- Is a Marriage Certificate the Same as a Marriage License and What Are the Differences?
- The Ten Most Popular Celebrity Mugshots
- How to Find Out if Someone is Married?
- How to Stop Phone Number Spoofing?
- How To Avoid Probate
- Dealing with abandoned vehicles in your neighborhood
- How to Find Someone's Cell Phone Number by Their Name
- Who Are the Worst Drivers in America?
- How To Find Unclaimed Money From Deceased Relatives
- What is a Digital License Plate?
- How to Find out if Someone Died?
- Murder vs Manslaughter: The Differences and Definitions
- How to Hire a Private Investigator?
- What Is a Number Neighbor?
- How to Find Out if Someone was Arrested
- How to Find Someone's Birthday?
- What is a Car Title
- How to Obtain a Police Report and Court Records?
- What is the Punishment for Filing a False Police Report?
- Prison Valley: Look inside Prison Town
- How to Get Custody of a Child Without Going to Court?
- How to Find Someone’s Social Media Profiles?
- What to Do if Your Phone Is Tapped?
- What Is a Deed in Real Estate?
- Where Was The First US Federal Penitentiary Established?
- Can You Track Someone's Location with Just a Phone Number?
- What Is a Restricted Phone Call and How to Block The Number?
- Who is the Most Dangerous Prisoner in the World?
- Poshmark Scams: How to Prevent and Report Them
- What to Do When Someone Is Missing: Practical Steps on How to Find a Missing Person
- How to Send Money to an Inmate in a Prison or Jail
- DUI vs DWI: The Difference Between DUI and DWI
- How Long After Buying a Car Do You Need to Register it?
- How to Find Someone's Address?
- What is an Ignition Interlock Device?
- What Is Situational Crime Prevention?
- How Can I Find Out Who Called Me for Free?
- Gun Free Zone Statistics and Facts
- Online Threats and Digital Security: Trends, Types and Most Common Examples
- Cold Cases: Best Practices For Police Officers and Investigators
- Court Order: Definition, Types and Examples
- What Does a Fingerprint Background Report Show?
- How to Check Your Criminal Record?
- What is Tort Law?
- How to Calculate Child Support
- Property Rights: Definition, and Characteristics
- 12 Common Reasons for Public Records Request
- What is Antitrust Law?
- Virginia Gun Confiscation Law
- Ways to Know Who Owns a House
- Neighborhood Watch Program
- How to Perform a Mugshot Search?
- Crime Mapping
- Safest Colleges in Florida
- Veterans Guide to Cars and Driving
- U.S. Correctional System: Structure, Incarceration and Facts
- License Plate Laws in the US
- How to Find Out If Someone Is in Jail?
- Email Hacking: Laws, Penalties and Protection
- Romeo and Juliet Laws
- Holiday Safety for Home and Family
- Differences between Criminal and Arrest Records
- Public Records and Property History: What is Public Information and What Isn’t
- How to Look up Immigration Inmates?
- Famous Prisons in the USA
- How to Find the Registered Owner of the Vehicle for Free?
- How to Search for Your Family Tree?
- The Federal Judicial Center
- Mass Incarceration in the USA
- What is COPPA (Children's Online Privacy Protection Act)?
- Data Safety After The Capital One Breach
- Scholarships Guide for Students
- Complete Guide to Student Safety
- What Is a Vehicle Identification Number?
- Determining Divorce: 5 Types of Divorce You Must Know
- Sex Offenders: Complete Guide to be Protected
- New Privacy Laws and Public Records
- Motor Vehicle Registration in the US
- Digital Token Age: Security Laws and Regulations
- Facial Recognition Technology and Legal Restrictions
- What Shows up in a Background Report
- What is Repossession of a Car?
- Protecting Yourself from Phone Scams
- Human Rights in the Prison
- What are Business Competition Laws?
- What is a Hate Crime?
- Starting a Business and Business Licenses
- General Data Protection Regulation (GDPR) Guidance
- Criminal Justice Reform
- Tax Reform Impact and Changes To Know
- Self-Driving Cars: Laws and Regulations
- White-Collar Crime: Statistics and Facts
- Have You Been Arrested? Cases You'll Need a Lawyer
- How to Get a Driver's License in the US
- Car Theft in the US: Statistics and Facts
- Identity Theft Passport Program
- Changing your Name after Marriage: What You Need to Know
- Finding the Perfect Roommate: Dos and Donts
- What to Do in a Car Accident?
- Property Crimes: How to Burglar Proof Your Home
- Consumer Laws in the US: What Do They Mean for a Customer and a Business Owner
- Child Trafficking: The Scope, Understanding, and Prevention
- Business Assets: A Guide to the Financial Health of your Business
- Guide To The College Application: How, When and Where to Apply
- Which States Have “Stand Your Ground” Laws?
- Adolescent Depression Symptoms and Causes
- Things to Know About the U.S. State Department Travel Advisory System
- Inheritance in the US: With & Without a Will
- Online Dating Safety Guide for Men and Women
- Sexual Abuse in the U.S.: Laws and Statistics
- Supporting Children After Divorce: Child Custody Options
- Halloween Horrors Come to Life: Holidays Crimes in the U.S.
- Charity Scams in the U.S.: Be Aware and Protected
- Webcam Hacking & Spying in the US
- Freedom of Religion in the U.S.
- Senior Financial Scams: How are the Elderly Targeted and How to Avoid It
- Catcalling: Is it illegal? How to Deal With It
- A Complete Guide To Insurance Fraud: Common Types and Prevention
- Sextortion: What to Do if You Became a Victim of Blackmailing
- Concealed Carry: How to Protect Yourself on Campus
- Debt Collection Laws | Fair Debt Collection Act: What You Need To Know
- How Much Is My House Worth? Ultimate Guide to Home Buying and Selling
- Traits of Sociopaths, Are They Dangerous and How to Deal With Them?
- Who Are Your Neighbors and How to Find Out About Them
- Learn How to Find Your Birth Parents
- The Importance of Public Records in Law
- What's The Difference Between a Jail And a Prison?
- Homeowner's Insurance Coverage & Common Claims
- The Disturbing Facts of Gun Violence in America
- How to Use Public Records in Marketing
- Best & Worst Cities for Driving
- LGBT Bullying
- A Parent's Guide to Keeping Your Child Drug-Free
- What You Need to Know When Buying or Selling a Used Car
- Guide to Filing for Bankruptcy
- Making Your DMV Experience Fast And Easy
- How to Appeal the Court's Decision
- How to Fight a Traffic Ticket?
- How to Prepare For an Active Shooter Incident
- How to Protect Yourself Against Cyber Attacks
- How to Report a Crime?
- Keeping Your Neighborhood Safe For Your Family
- School Safety and Security Standards
- 50 Things to Know When Filing for Divorce
- Tips for Back-to-School Safety and Security
- A User's Guide to Warrants
- What to Do When You Are Stopped By the Police
What is a White Collar Crime? A Full Guide
White-collar offenses are nonviolent crimes that involve concealment or deceit of some sort with a financial goal. The phrase white collar crime was originated by Edwin Sutherland, a criminologist that defined it as an offense that is committed by a person of high social status. Since then, it has been linked to organization misconduct and wealthy individuals that have perpetrated fraud against their clients. White-collar crimes can take various forms, each attracting a unique sentence depending on the judicial jurisdiction. Organizations may also consider a person’s white-collar crime history by looking into their criminal records before hiring them.
7 Different Types of White Collar Crime
1. Money Laundering
Money laundering is a crime where a person or group takes money obtained illegally and cleans it through a series of transactions. The goal is to make it appear as if the money was earned through legal channels. For example, a criminal organization may channel its illegal proceeds to a cash-heavy business such as a laundromat, restaurant, or car wash, and the returns from this business will be the cleaned money that can be validly used in the market.
2. Fraud
Fraud is an intentional deception that is committed by an individual or organization in an attempt to gain from them illegally. It is a misrepresentation of facts either by withholding important information or giving a false statement with the objective of gaining from it. Victims of these crimes are allowed by law to sue the perpetrators to have their funds recovered. Even in a case where there was no revenue loss, they can still sue to reestablish the rights of the victim.
3. Counterfeit
Counterfeiting refers to the use of falsified documentation or falsely marketed products. The worst cases of counterfeiting involve money where criminal organizations make fake money and infuse them into the market. Similarly, they can create fake passports to facilitate the travel of fugitives and dangerous individuals. These crimes are typically investigated by federal agencies, and the penalty of conviction is quite severe in many cases.
4. Mortgage Fraud
Mortgage fraud refers to the falsification of loan documentation with the objective of illegally profiting from the loan process. It can result in prosecution if the offender is caught. Should the fraud be identified before the closing date, the lender may cancel the loan, which means the buyer cannot secure the property. In that case, the seller may sue the perpetrator, and the buyer will lose their deposit.
5. Identity Theft
Identity theft or fraud is when a person steals another’s personal information, like their social security, driver’s license, or credit card. The goal is to benefit from their identity as cover or financially. For example, criminals may steal a driving license or vehicle registration documents and commit crimes to throw off law enforcement personnel. Alternatively, a person’s credit information may be stolen, and purchases run up, resulting in financial or criminal liability. Unfortunately, once identities have been stolen, it is not easy to track down the perpetrator.
6. Cybercrime
Cybercrime refers to any criminal activity which either targets or utilizes computing devices and networks. The majority of these crimes are committed with a financial goal in mind and are done by offenders well-versed in coding, hacking, and malware. Cybercrimes may be done to extort governments, organizations, and individuals of money. For example, ransomware which is sent to an individual’s device, can effectively lock them out of using their computer. The hackers will then send a message indicating they will send a key to unlock it if they are given compensation.
7. Insider Trading
Insider trading is the purchasing or disposing of publicly traded stock by an individual that has confidential information concerning the same organization. It is designated illegal when the company information is still unavailable to the public during the trade. This information can be any which affects the stock price of the company.
Most Famous White Collar Crime Case
The Bernie Madoff case was the most famous fraud case in modern history. Bernie Madoff was one of the most prominent money managers before the housing crisis in 2007. Unfortunately, his business was essentially a Ponzi scheme rather than actual trading. A Ponzi scheme is a fraudulent type of investment where the new investors of a business endeavor are paid with money that was obtained from the initial investing parties. This arrangement may continue for some time, but it is not sustainable, and some investors may lose all of their input. In Madoff’s case, it was exposed during the extreme market situation that led to the 2008 recession. He ultimately defrauded investors of tens of billions of dollars. The Ponzi scheme resulted in $20 billion in cash losses, more than three times that of paper loss. He was eventually sentenced to 150 years in federal prison, and his case is typically referred to in most fraud or white-collar crime discussions.
How are White Collar Criminals Punished
The penalties for white-collar crimes depend on the offense which was committed. For some incidents, the offender may be sentenced to several years in prison, while in other cases, they would only incur a fine type of punishment from the authorities. It may be difficult to prosecute white-collar crimes because the alleged criminals involved have hidden their activities in deep and convoluted transactions that are hard to work out. They may also be hidden in tax havens that do not consider some of the activities illegal. Some tax holes also have confidentiality clauses for the clients, so the information may not be surrendered to the authorities as evidence. In cases where it is significant, the offender may be sentenced to several years
Conclusion
Though white-collar crime is not violent by nature, it can still devastate the victims of the offense just as much, if not to a higher degree. For example, the case involving Bernie Madoff led to billions of dollars in losses. Some investors lost their entire savings and have never recovered. However, white-collar offenses involve misrepresentation, extortion, fraud, and theft, often resulting in financial or non-financial losses. The victims of these crimes can file lawsuits against the offenders demanding compensation or their restoration of rights. Typically, the sentences issued by the courts for convicted white-collar offenders may vary from fines to several years in prison. Both criminal and arrest records should indicate if a person has been involved in white-collar crime.