1. List at least 5 examples of common white collar crimes.

1. List at least 5 examples of common white collar crimes.

To understand what types of white collar crimes there are, first we must understand what exactly a white collar crime is. According to the National University, “ ‘white collar crime’ refers to nonviolent crimes committed by business or government professionals. These crimes typically involve deceit, breach of trust, or concealment rather than physical force. They are often committed by individuals in the higher echelons of society, whose occupational roles provide them with ample opportunities for illicit gain.” (National University, 2018). So examples of white collar crimes would be

Fraud

Embezzlement

Insider trading

Money laundering

Bribery

Cybercrime

While none of these crimes are violent by any means, they are still some of the worst forms of criminal activity that can be committed. Oftentimes, white collar crimes affect people financially which is corrupt. White collar crimes often consist of misusing or stealing money from people and organizations.

2. Money Laundering used to be rare. Why do you think money laundering has become a common occurrence among the white collar population in the United States.

What is money laundering? Per the Oxford Dictionary, Money Laundering is the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. Money laundering has become a common occurrence among the white collar population because of several reasons. Logistically, it is difficult to detect. Following the flow of the money is not easy. According to Investopedia, “The use of proxy servers and anonymizing software. These tools make integration almost impossible to detect because money can be transferred or withdrawn with little or no trace of an IP address. Money can be laundered through online auctions and sales, gambling websites, and even virtual gaming sites.” So that is all true yes. But I think it supports the fact that rich people think they are above the law and can run and hide from the law. They think that they can get away from it.

Bethtbf, B. (2018, October 22). Common white collar crimes. National University. https://www.nu.edu/blog/common-white-collar-crimes/

Stapleton, C. (2023, July 22). What methods are used to launder money?. What Methods Are Used to Launder Money?

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