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WHITE COLLAR CRIMES . A variety of nonviolent financial crimes, generally committed by businesspeople or public officials. .

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A variety of nonviolent financial crimes, generally committed by businesspeople or public officials.

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The phrase "white-collar crime" was coined in 1939 during a speech given by Edwin Sutherland to the American Sociological Society. Sutherland defined the term as "crime committed by a person of respectability and high social status in the course of his occupation.”
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Most of us would like to think of ourselves as upstanding, moral citizens. We probably trust ourselves to never hold up a bank or murdersomeone in cold blood. Not only are these blatant violations of common ethics. Any 5-year-old will tell you they're bad. But they're hard to get away with and generally distasteful to carry out.
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On the other hand, another kind of crime is much easier to rationalize to ourselves. Committing it doesn't require a gun or a knife. You may not see an apparent victim. It's easily covered up. It can secure your financial future for life and ­you may have­ plenty of opportunity. This is the case for white-collar crime, a class of crimes associated with various types of sophisticated fraud.
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Many white-collar crimes are especially difficult to prosecute because the perpetrators use sophisticated means to conceal their activities through a series of complex transactions.
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Even if the fraud suspected, there are no bloody footprints, no DNA evidence, no eyewitnesses and no smoking gun.

White collar criminals may leave only complex paper trails that take time and skill to sift through.

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Bank Fraud

To engage in an act or pattern of activity where the purpose is to defraud a bank of funds.

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Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution.
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Blackmail

Blackmail means threatening to say something bad about someone unless that person pays some money.

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A demand for money or other consideration under threat to do bodily harm, to injure property, to accuse of a crime, or to expose secrets.
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If someone has committed a crime, another person might blackmail them. The blackmailer might, for example, say that if the criminal does not give them a large amount of money they will tell the police.
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A blackmailer may threaten to say something embarrassing about someone unless they hand over a sum of money. It may be something about a sexual relation they are having that they do not want everyone to know about.
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Sometimes a business may blackmail another business. They might threaten to harm that business in some way unless money is paid.
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Bribery

Bribery means offering something (e.g. money) to a person in return for some favour, which is bad in some way.

The money that is offered is called a bribe and the verb is to bribe.

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Cellular Phone Fraud

The unauthorized use, tampering, or manipulation of a cellular phone or service. This can be accomplished by either use of a stolen phone, or where an actor signs up for service under false identification or where the actor clones a valid electronic serial number (ESN) by using an ESN reader and reprograms another cellular phone with a valid ESN number.

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Computer fraud

Where computer hackers steal information sources contained on computers such as: bank information, credit cards, and proprietary information.

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Counterfeiting

Occurs when someone copies or imitates an item without having been authorized to do so and passes the copy off for the genuine or original item. Counterfeiting is most often associated with money however can also be associated with designer clothing, handbags and watches.

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Credit Card Fraud

The unauthorized use of a credit card to obtain goods of value.

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Currency Schemes

The practice of speculating on the future value of currencies.

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Embezz1ement

When a person who has been entrusted with money or property appropriates it for his or her own use and benefit.

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Environmental Schemes

The overbilling and fraudulent practices exercised by corporations which purport to clean up the environment.

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Extortion

Occurs when one person illegally obtains property from another by actual or threatened force, fear, or violence, or under cover of official right.

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Forgery

When a person passes a false or worthless instrument such as a check or counterfeit security with the intent to defraud or injure the recipient.

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Health Care Fraud

Where an unlicensed health care provider provides services under the guise of being licensed and obtains monetary benefit for the service.

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Insider Trading

When a person uses inside, confidential, or advance information to trade in shares of publicly held corporations.

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Insurance Fraud

To engage in an act or pattern of activity wherein one obtains proceeds from an insurance company through deception.

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Investment Schemes

Where an unsuspecting victim is contacted by the actor who promises to provide a large return on a small investment.

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Kickback

Occurs when a person who sells an item pays back a portion of the purchase price to the buyer.

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Larceny/Theft

When a person wrongfully takes another person's money or property with the intent to appropriate, convert or steal it.

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Money Laundering

The investment or transfer of money from racketeering, drug transactions or other embezzlement schemes so that it appears that its original source either cannot be traced or is legitimate.

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Racketeering

The operation of an illegal business for personal profit.

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Securities Fraud

The act of artificially inflating the price of stocks by brokers so that buyers can purchase a stock on the rise.

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Tax Evasion

When a person commits fraud in filing or paying taxes.

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Telemarketing Fraud

Actors operate out of boiler rooms and place telephone calls to residences and corporations where the actor requests a donation to an alleged charitable organization or where the actor requests money up front or a credit card number up front, and does not use the donation for the stated purpose.

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Weights and Measures

The act of placing an item for sale at one price yet charging a higher price at the time of sale or short weighing an item when the label reflects a higher weight.

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According to the Federal Bureau of Investigation, white-collar crime is estimated to cost the United States more than $300 billion annually. Although typically the government charges individuals for white-collar crimes, the government has the power to sanction corporations as well for these offenses.
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The penalties for white-collar offenses include fines, home detention, community confinement, paying the cost of prosecution, forfeitures, restitution, supervised release, and imprisonment.
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However, sanctions can be lessened if the defendant takes responsibility for the crime and assists the authorities in their investigation. Any defenses available to non-white-collar defendants in criminal court are also available to those accused of white-collar crimes.
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References

http://www.law.cornell.edu/wex/white-collar_crime

http://en.wikipedia.org/wiki/White-collar_crime

http://www.howstuffworks.com/white-collar-crime.htm

http://www.ckfraud.org/whitecollar.html

Meryem YÜKSEK

050113042

meryem.yuksek@std.zirve.edu.tr