white collar crime (WCC) Flashcards
What is white collar crime?
non-violent crimes. typically seen as victimless, but that’s not the case.
Who is the typical offender of a white collar crime?
People in a position of power or authority, upper/ middle class, professionals
What is WCC usually motivated by?
money
What does WCC involve?
deceit, concealment, violation of trust
List 5 examples of WCC
fraud, embezzlement, insider trading, money laundering, bribery
What is fraud?
wrongful or criminal deception to result in personal/ financial gain
What is embezzlement?
Secretly stealing money the person is entrusted with
What is insider trading?
trading a public company’s stock or other securities by non-public access.
What is money laundering?
The process of hiding the origins of illegally obtained money, typically by trading it through a complex sequence of transactions to make it untraceable. ‘cleaning dirty money’
What is bribery?
offering, giving or receiving something of value to influence yours or someone else’s actions
Who is a typical victim of white collar crime?
businesses, celebrities, pensioners, charities
White collar crime is difficult to investigate. True or False? why?
True, it’s seen as a victimless crime.
White collar crime is difficult to investigate. True or False? why?
True, it’s seen as a victimless crime.
What is the public awareness of white collar crime?
Not very known. Awareness is growing.
