White Collar Crime Basics
What is white-collar crime?
A typically non-violent, financially motivated crime involving deception or abuse of trust.
What is one common financial consequence of investment fraud?
Loss of savings, investments, or retirement funds.
What is primary victimization?
The direct harm a victim experiences because of a crime.
Who operated the famous Quebec Ponzi scheme that ended in 2009?
Bertram Earl Jones. If you get this wrong I'll take away one of your chocolates
Name one recommendation from our presentation for preventing investment fraud.
Stronger financial audits, improved oversight, or better monitoring of financial advisors.
Who popularized the term "white-collar crime" in 1939?
Edwin Sutherland.
Name two emotional consequences victims may experience after investment fraud.
Any two: anxiety, depression, stress, anger, shame, or embarrassment.
What is victim blaming?
Shifting responsibility for the crime from the offender to the victim.
Which Canadian mining company falsely claimed to have discovered an enormous gold deposit in Indonesia?
Bre-X. I will take a chocolate away if you get this wrong
What Canadian mining disclosure regulation was introduced following the Bre-X scandal?
National Instrument 43-101. I'll give whoever gets this right 5 chocolates
What is the main difference between white-collar crime and financially unethical behaviour?
White-collar crime violates laws, while unethical behaviour does not necessarily break the law.
According to our presentation, what percentage of investment fraud victims were over 55?
60%. Closest wins
Who developed the concept of the "ideal victim"?
Nils Christie. I don't expect anyone to know this answer. If you do I'll give you like 3 chocolates or something
How many victims were affected by Earl Jones's Ponzi scheme?
158 victims.
What minimum prison sentence did Bill C-21 introduce for qualifying fraud offences exceeding $1 million?
Two years. Closest wins
Name two methods offenders use to commit white-collar crimes.
Any two: deception, manipulation, abuse of authority, or exploitation of trust.
What percentage of victims in the study were classified as inexperienced or "unsophisticated" investors?
62%. Closest wins
What are the three components of routine activity theory?
A motivated offender, a suitable target, and the absence of capable guardianship. Guys these questions r kinda hard
Approximately how much financial harm was reported in the Earl Jones case?
$51.3 million. Closest wins
Why did the RCMP close its criminal investigation into Bre-X in 1999?
Insufficient evidence to support criminal charges.
What is an example of rationalization used by white-collar offenders?
Claiming they are only borrowing money temporarily or that everyone engages in similar practices.
Approximately how much money was reported lost to investment fraud in Canada in 2024?
$313 million. Closest wins
In the Bre-X case, what is the difference between secondary and tertiary victimization as discussed in our presentation?
Secondary involves further harm through legal and institutional responses; tertiary refers to broader indirect harm affecting other investors and mining companies.
By approximately how much did the Vancouver Stock Exchange Composite Index decline in the weeks following the Bre-X scandal?
More than 25%. Closest wins
How much money was approved in the 2013 Alberta court settlement related to the Bre-X scandal?
$5.2 million. Closest wins