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Types of White

Collar Crime
BY: MATT LEISSES

Bank Fraud

Definition: Use of potentially illegal means to obtain money,


assets, or property owned or held by a financial institution

Famous Example: In 193 AD, some Roman guards killed the


emperor and sold the Empire for roughly $1 Billion in todays
money. It was fraud because they sold what wasnt theirs's.

Someone would commit this crime to gain lots of money

Blackmail

Definition: The action of demanding money from a person under


the threat of releasing some secret information about the person

Famous Example: Tom Cruise and Katie Holmes had their


wedding photos stolen and were asked for $1.3 million to get
them back

Someone usually blackmails for money or some kinds of other


gain

Bribery

Definition: The giving or offering or a bribe

Famous Example: A former governor of Virginia and his wife took


bribes in exchange for the governor favoring the people who
gave the bribes

People use bribery to get what they want

Cellular Phone Fraud

Definition: Unauthorized use or tampering with someone else's


cell phone

Famous Example: My friends phone was hacked and stolen from


him

People would do this crime to get information

Computer Fraud

Definition: Using computers, the internet, or internet programs


to defraud people

Famous Examples: Aaron Swartz was arrested for allegedly


hacking in MIT to get papers, but there was backlash because
the papers were actually public information

People would do computer fraud to get information about people

Counterfeiting

Definition: Making an exact replica of something valuable and


passing it off as an original

Famous Case: In 2013, a Georgia man was arrested for


circulating over $1.1 million of fake bills

People would counterfeit in order to make more money easily

Credit Card Fraud

Definition: Theft and fraud committed involving someone elses


credit or payment card

Famous Case: Albert Gonzales stole 45 million credit and debit


card numbers, making lots of money

People use credit card fraud to get money

Currency Schemes

Definition: A crime involving stealing currency from others and


using it for yourself

Famous Case: In 2013, someone illegally took several Bitcoins, a


virtual currency

People use currency schemes to get more money

Embezzlement

Definition: theft or misappropriation of someone elses funds


placed in ones trust to keep safe

Famous Case: Bernie Madoff, an investment banker, stole


billions from his investors and put the money straight into his
bank account

People use embezzlement to get richer and fund themsleves

Environmental Schemes

Definition: Doing something illegal that can harm protected


parts of the environment

Famous Case: In the 1920s, The US Secretary of Interior took a


bribe from an oil driller to allow him to drill in a protected area;
Teapot Dome Scandal

People do environmental crimes to either make money or just be


evil

Extortion

Definition: Process of obtaining something, especially money,


through force or threat

Famous Case: A man hacked into Miss USAs computer, took


pictures of her naked, and threatened to post the pictures online

People use extortion as a means to get what they want

Forgery

Definition: The action of copying a document, paper, or


signature and passing it off as your own

Famous Case: A man in Meridian has just been arrested as a


suspect in a check forgery case

People use forgery to get money or some kind of gain by


pretending to be someone else

Health Care Fraud

Definition: When someone gives false information regarding


health care or the services and payments available

Famous Case: Many people commit healthcare fraud. In 2014, the


government recovered $5.7 billion in health care fraud money

People commit health care fraud for financial gain

Insider Trading

The trading of public stocks or other securities by individuals


with non-public information about the company

Famous Case: James McDermott Jr, the former CEO of an


investment bank, was charged with giving insider trading
secrets to his mistress

People commit this crime for financial gain

Investment Schemes

Definition: Crimes involving investments and stocks; Ponzi


Scheme

Famous Case: Bernie Madoff, an investment banker, made


billions off of a Ponzi scheme; He said he invested his clients
money but he put it into his bank account instead

People do investment schemes for financial gain

Larceny/Theft

Definition: Taking another persons personal property illegally


without their consent

Famous Case: Theft can be anything from stealing a pen from a


hotel lobby to stealing millions from a bank heist

People commit theft and larceny for financial gain

Money Laundering

Definition: process by which criminals disguise the original


ownership and control of the proceeds of criminal conduct by
making such proceeds appear to have derived from a legitimate
source

Famous Case: In 2014, Alvaro Lopez Taron was arrested after his
multi million dollar money laundering syndicate was exposed

People launder money for financial gain or to fund other illegal


activites

Racketeering

Definition: the act of offering of a dishonest service to solve a


problem that wouldn't otherwise exist without the enterprise
offering the service

Famous Case: In 2015, the Clintons were accused of


racketeering in order to get money for their organization, but
the case was thrown out because of lack of evidence

Racketeering is used by criminals to get some sort of financial


gain

Securities Fraud

Definition: Deceptive practice used in stock market business to


convince others to buy stock based on false information

Famous Case: In 2015, a Texas man was convicted in the first


ever securities fraud case involving Bitcoin, not real money

People commit securities fraud for financial gain

Tax Evasion

Definition: Evading paying your taxes for a long period of time

Famous Case: Many former pro athletes are found guilty of tax
evasion since they run out of money after retiring

People commit tax evasion if they cant afford to pay their taxes

Telemarketing Fraud

Definition: When a telemarketing company falsely advertises a


product in order to trick the customers into buying it

Famous Case: In 2014, six men in California were arrested after


tricking customers into buying stocks that they said would have
high returns

People commit telemarketing fraud for financial gain

Welfare Fraud

Definition: Intentional misuse of state welfare systems by


withholding or giving false information

Famous Case: Linda Taylor, the welfare queen, got lots of


money from the welfare system for lying about her
circumstances