WHITE COLLAR CRIMES BYRohit madhu 13bme1144

HIGH-PROFILE WHITE-COLLAR CRIMEWhite-collar crime is known for being complicated -- it thrives on that very quality. It can be difficult to even keep up with the jargon of financial terms and violations associated with this type of crime.Insider tradingSecurities fraudAnti trust violationBribery

INSIDER TRADINGrefers to buying or selling a company'sstockwhile in the know or in possession ofmaterial non-public information. If an employee so much as tells his or her friend some important company information and the friend trades that corporation's stock, both buddies could be indicted.

SECURITIES FRAUD (ECONOMIC)involves some sort of deceit, underhandedness or misrepresentation of a company's performance that manipulates the market and can result in people making bad investments. An accountant would be guilty of this if he or shecooks the booksto make it look like a company is bringing in more profit than it is. Insider trading can also fall within this category.

ANTI TRUST VIOLATIONoccur when a company dominates an important market to such an extent that it can work above the competitivefree marketat severe disadvantage to the consumer, it's considered a monopoly or trust. Actions to abuse this power like price fixing -- artificially raising prices beyond competitive market values -- count asantitrust violations

BRIBERYis one of the most well-known types of white-collar crime. It involves a quid pro quo relationship where someone gives a gift to a powerful person in exchange for a favorable decision or use of power. For example, an influential person could agree to accept akickbackor money in exchange for recommending a company's bid for a contract.

This practice is unethical when it comes to decisions that should be made on an objective basis because it can result in negative effects for the public, particularly in the cases of public officials.

LESS TRADITIONAL EXAMPLES OF WC CRIMEEnvironmental law violations are forms of white-collar crime. In the course of doing business, corporations sometimes take actions -- like dumpingtoxic waste-- that harm environmental conditions for local residents or wildlife. Businesses and executives, however, might do it anyway and cover it up to avoid paying the costs of obeying safe environmental practices.

What's more,economic espionage andtrade secrettheftare white-collar crimes as well. You can't just go about stealing important plans, ideas and designs from other people and corporations for financial benefit -- these can count as trade secrets. Stealing them for a foreign government in particular will get you in hot water with government agencies like theFBI.

When a company or person's finances get so bad off that payingdebtsbecomes impossible,bankruptcy, which entails at least a partial forgiveness of debt, can be a savoir from disaster. Unfortunately, some choose to abuse this option by making their financial position look worse than it is in order to get out of debt. This is consideredbankruptcy fraud.

Insurance fraudentails lying to obtain an insurance payout.Credit card fraudrefers to stealing another's credit card information to make purchases. Telemarketing fraud, the perpetrator poses as a telemarketer in order to obtain personal information foridentity theftor scheme others into sending money.

ComputerorInternet fraudoccurs when someone intercepts a transmission orhacksinto a computer to obtain personal information orcredit cardnumbers.

In a scheme known as phishing, fraudsters send e-mails that appear to be from legitimate businesses with whom you do business and try to get you to click on a hyperlink to enter your personal identification number (PIN) or other personal information so that they can empty yourbank account.

Mail fraudis similar to telemarketing fraud, except it uses mail rather than the phone to con the recipient into sending money or providing personal information.

Counterfeitingis another type of white-collar crime. A counterfeiter makes a fake item, such as imitation paper money or even a brand-name product, and tries to pass it off as the real thing for profit. A related crime would be to secretly use shoddy materials for construction to cut costs, which results in unsafe structures.