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White-collar crimes are defined as deception, concealment, or breach of trust. The term “white-collar crime,” which is said to have been invented in 1939, currently refers to a wide range of scams perpetrated by business and government officials (Berghoff & Spiekermann, 2018). These crimes are motivated by a desire to get or avoid losing money, property, or services or to gain a personal or business advantage.
The difference between white-collar and other types of criminality boils down to a question of opportunity. Theft prospects for white-collar workers, such as owners and managers, differ from, for example, those for blue-collar workers. These opportunities are usually less evident and more difficult to seek (FBI). The main distinguishment of white-collar crime is that they do not involve the use or threat of physical force or violence (Berghoff & Spiekermann, 2018). A blue-collar criminal may steal using force or firearms, while a white-collar criminal may steal through fraud or financial scams. Moreover, it might not always be clear who is the victim of a white-collar crime, while the other types of crime are usually easy to detect (Berghoff & Spiekermann, 2018). The reason is that white-collar crime affects different stakeholders, investors, consumers, and employees.
Because the perpetrators utilize sophisticated techniques to disguise their activities through a succession of complex transactions, many white-collar crimes are particularly difficult to prosecute. In order to prosecute white-collar crimes, FBI agents closely partner with regulatory and law enforcement agencies, including Exchange Commission, the U.S. Postal Inspection Service, the Treasury Department’s Financial Crimes Enforcement Network, and more, targeting fraud cases that are harmful to the economy (FBI). Whistleblowers are especially beneficial to white-collar crime prosecutors because they disclose internal misconduct.
References
Berghoff, H., & Spiekermann, U. (2018). Shady business: On the history of white-collar crime. Business History, 60(3), 289-304. Web.
FBI. White-Collar Crime. Web.
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