Hot Springs Village People

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White Collar Crime

by Lorri Street, September 13, 2019

Each morning I ask my “Alexa”’ for a CNN and NPR news briefing.  Once the news briefing is finished, “Alexa” provides a Word of the Day. One morning recently the word was “White Collar Crime.” Alexa defined it as “Refers to financially motivated nonviolent crime committed by businesses and government professionals. It was first defined by the sociologist Edwin Sutherland in 1939 as a crime committed by a person of respectability and high social status in the course of their occupation.”

This piqued my interest so I “Googled’ and found the following (excerpts) of the definition of White Collar Crime at the FBI website, “What we investigate – White Collar Crime.”

“The term white-collar crime is now synonymous with the full range of frauds committed by business and government professionals. These crimes are characterized by deceit, concealment or violation of trust and are not dependent on the application or threat of physical force or violence. The motivation behind these crimes is financial—to obtain or avoid losing money, property or services, or to secure a personal or business advantage.”

“Corporate fraud continues to be one of the FBI’s highest criminal priorities. As the lead agency investigating corporate fraud, the Bureau focuses its efforts on cases that involve accounting schemes, self-dealing by corporate executives and obstruction of justice.”

“The majority of corporate fraud cases pursued by the FBI involve accounting schemes designed to deceive investors, auditors, and analysts about the true financial condition of a corporation or business entity. Through the manipulation of financial data, the share price, or other valuation measurements of a corporation, financial performance may remain artificially inflated based on fictitious performance indicators provided to the investing public.”

Just struck a chord with me…

by Lorri Street, September 13, 2019

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