What are white collar crimes?

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More about white collar crimes

The white collar crimes are nonviolent crimes which are committed for the financial gain. The embezzlement, securities fraud, the money laundering and corporate fraud are some of the examples of the white collar crime and all these acts are also investigated by FBI, SEC (securities & exchange commission) and national association of the securities dealers(NASD). Some of the high profile individuals that are convicted of the white collar crime are Bernard Ebbers, Bernard Madoff, Kenneth Lay and more. This also involves the activities which are committed by the people in regular course of business and even includes the extortion, bribery, and others. this ends with the financial gain for perpetrators.

More about white collar crimes

More about white collar crimes

Not all the crimes include smoking gun. Some of the crimes are committed right under victim’s nose without single shots fired. These crimes are the criminal acts which are performed by the people in course of the business that are committed for financial gains. These crime types can cost the citizen million number of dollars. They are also difficult in prosecuting as they include the sophisticated system or many of the different people. The frauds which are committed typically includes as,

The government can prosecute both individuals committing crime and corporation for which he or she works. The white collar crimes get its name from individual types that commit the financial fraud which includes the executives, fund managers or business managers. They can face the prison time, the steep fines, if they are ever convicted of these crimes. The federal government can also pursue the financial damages from them and banks which commit these crimes on the wide level. You can also check out some of the examples of these crimes which includes the large scale of the fraud which is perpetrated throughout institution. For example the credit Suisse who was pleaded guilty in the year2014 helped US citizens for avoiding taxes and hiding the income from the service of internal revenue. Many of the white collar crimes examples can be found online. Read more for better understanding.