Types of White Collar Crime
A form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds.
Ponzi scheme
One of the biggest reasons people rationalize white collar crime is because "I didn't hurt anyone". What neutralization technique are they using?
Denial of Injury
or
Denial of Intent
Zach Has a scheme to hire people to sell vitamin supplements. In order to sell them he gets investors to pay in and hire their own investors. Each level of investor is paying their way up with Zach being the one making the most money.
Ponzi Scheme
Based on the true story of Jordan Belfort, from his rise to a wealthy stock-broker living the high life to his fall involving crime, corruption and the federal government.
The Wolf of Wall Street
White Collar Crimes are still crimes.
#16: Peace, Justice and Strong Institutions
The act of withholding assets for the purpose of conversion (theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes.
Embezzlement
This is the subconscious tool people use to justify their unethical actions. This helps people who commit white collar crimes still perceive themselves as ethical.
Rationalization
Tom has a really close friend named Bob. Bob works at Tesla. Bob tells Tom about a big announcement Tesla is going to have that will double Tesla stock prices. Bob tells Tom to invest now to capitalize on the market. Tom invests. What type of white collar crime is this?
Insider Trading
Showtime's hit TV series starring Damian Lewis as hedge-fund billionaire Bobby Axelrod and Paul Giamatti as an aggressive U.S. Attorney out to get him on charges of insider trading.
Billions
White collar crimes can lead to stagnate innovation. I
#9: Industry, Innovation and Infrastructure
An organized criminal act in which the criminal act is some form of substantial business, or a way to earn illegal money either regularly, or briefly but repeatedly.
Racketeering
Sometimes white collar crime starts at the top when a higher up pressures employees to do whatever it takes to get the desired results.What external danger is this?
Obedience to Authority
Tony is a scammer. Tony sends phishing emails to employees of companies that look like they were sent from the companies HR. Once an employee clicks on the custom link in the email, Tony can access their personal information. Tony then opens new credit cards in the employees name. What type of white collar crime is this?
Identity Theft
This show centers on the unlikely crime-solving partnership between Neal Caffrey , a charming con man turned consultant for the FBI, and Peter Burke , the Federal Agent charged with keeping him on the right side of the law.
White Collar
If a cities relies on a large corporation that commits white collar crimes and closes, then it is detrimental to the community.
#11: Sustainable Cities and Communities
Deliberate use of someone else's identity, usually as a method to gain a financial advantage or obtain credit and other benefits in the other person's name
Identity theft
What are the 3 factors that lead people to do unethical actions like white collar crime?(fraud triangle)
Perceived pressure,
Perceived Opportunity,
Rationalization
Jack puts money hes earned illegally into a legal cash based business so he can pay taxes on it. This allows Jack to spend the illegal money without getting audited by the IRS.
Money laundering
A financial adviser drags his family from Chicago to the Missouri Ozarks, where he must launder $500 million in five years to appease a Mexican drug Cartel.
Ozark
People who get their identity stolen can lose everything they own and be crushed by debt.
#1: No Poverty
The illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions. The overall scheme of this process returns the money to a person in an obscure and indirect way.
Money laundering
What neutralization technique is used when a person goes alone with insider trading because it seems like everyone else in the office is doing it.
Claim of Normalcy
Karen is a bank teller who pockets cash deposits when no one is watching her. What white collar crime is this?
Embezzlement
A school teacher, diagnosed with lung cancer, turns to a life of crime by producing and selling crystallized methamphetamine, laundering his profits through the car wash his wife manages.
Breaking Bad
Effect the growth of the economy in a negative way. Companies that are caught committing white collar crime have to pay fines which leads to the loss of jobs.
#8: Decent Work and Economic Growth