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LSDefine

Simple English definitions for legal terms

white-collar crime

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A quick definition of white-collar crime:

Term: White-collar crime

Definition: White-collar crime is a type of crime that doesn't involve violence. It usually happens in business or work settings and involves cheating or being dishonest. Some examples of white-collar crime are lying to get money, stealing money from a company, giving money to someone to get something in return, and using secret information to make money.

A more thorough explanation:

White-collar crime

White-collar crime is a type of crime that usually involves cheating or dishonesty in business or financial matters. It is a nonviolent crime that is committed by people who work in offices or other professional settings. Examples of white-collar crimes include fraud, embezzlement, bribery, and insider trading.

  • A company executive who steals money from the company's accounts and uses it for personal expenses is committing embezzlement.
  • A stockbroker who uses insider information to make trades and profit illegally is committing insider trading.
  • A politician who accepts money from a company in exchange for political favors is committing bribery.
  • A business owner who creates fake invoices to overcharge customers is committing fraud.

These examples illustrate how white-collar crimes involve dishonesty and deception in business or financial matters. They are usually committed by people who have access to sensitive information or who hold positions of power and trust. White-collar crimes can have serious consequences for individuals and society as a whole, including financial losses, damage to reputations, and erosion of trust in institutions.

Whistleblower Protection Act | whiteacre

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