What is white collar fraud?

Answer by  Stan567 (417)

"White collar crimes" are usually defined as sophisticated crimes, usually involving large sums of money. However, the normal definition is that white collar crime is considered the opposite of "street crime." Fraud is one example, and a white collar fraud is probably a large fraud with many victims (and probably a lot of money).

Answer by  dogstarz (40)

Fraudulent acts that are committed by manipulating or falsifying data is known as white collar fraud. Some examples include bank fraud, embezzlement, insurance fraud, securities fraud and credit card fraud.

Answer by  bitchstewie (489)

White collar fraud is where a person steals money from someone by lying, false representation or cheating, generally without violence.

Answer by  CarolynOsborne (2804)

White collar fraud is the type of crime that Bernie Madoff committed. It is not a violent crime the way a robbery is violent. Nevertheless, it is devastating.

Answer by  Gunrunner (561)

This is fraudulent activity committed by executives, i.e. the management, of a company. It is called "white collar" fraud in reference to the "white" shirts usually worn by executives in a business. Blue collar "crime" is considered that committed by workers or "blue collar" personnel.

Answer by  tamarawilhite (17883)

White collar fraud is when someone steals money from the company under fraudulent terms. This can include billing for fake expenses, sending in invoices for items later returned to boost commission income, or billing overtime not actually worked.

Answer by  John (9008)

It is fraud committed by white collar workers. Usually, this means bankers or investment counselors who lie and steal from their clients.

Answer by  Josh1981 (23)

White Collar Fraud is a crime committed by an individual with a high status, usually in the profession he/she is employed.