The laws concerning white collar crimes vary, depending on the exact nature of the crimes committed, though many fallunder federal authority (US)
White collar crime refers to non-violent crimes committed through deceptive practices, for the purpose of financial gain. Following is the white collar crime dictionary definition. The actual term “white collar crime” was coined by Edwin Sutherland, Professor of Sociology and 29th President American Sociological Society. Sutherland described such crimes as “a crime committed by a person of respectability and high social status in the course of his occupation.”
White collar crimes cover a wide range of activities, but generally, the crimes are committed by people who are involved in otherwise lawful businesses. The perpetrators often hold respectable positions in their communities or businesses, until their illegal activities are discovered. The laws concerning white collar crimes vary, depending on the exact nature of the crimes committed, though many fall under federal authority.
Types of White Collar Crimes and the relevant acts regulating the same
The common examples of white collar crime include fraud, insider trading, and bribery etc. White collar crimes can often be difficult to prosecute, as the perpetrators take sophisticated steps to ensure that their illegal activities are difficult to detect. The most common types of white collar crime are explained below:
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