What is White Collar Crime?
White Collar Crime refers to offenses designed to produce financial gain using some form of deception.
Who typically commits White Collar Crimes?
This type of crime is usually committed by people in the business world who have access to large amounts of other people’s money.
What is Fraud?
Fraud is any activity that relies on deception to achieve a gain and becomes a crime when there is a knowing misrepresentation of the truth.
What are the four legal elements of Fraud?
1.) A material false statement
2.) Knowledge statement was false when communicated
3.) Reliance on the false statement by victim
4.) Financial loss
What is Wire Fraud?
Wire Fraud is a criminal offense that involves using electronic communications to intentionally deceive and defraud someone of money, property, or honest services.
What is Embezzlement?
Embezzlement is the fraudulent taking of personal property with which one has been entrusted, especially as a fiduciary.
What is Money Laundering?
Money Laundering is the act of transferring illegally obtained money through legitimate people or accounts so that its original source cannot be traced.
What is Willful Obstruction of Justice?
Willful Obstruction of Justice is a serious offense that involves deliberately interfering with a legal process.
What does Intent refer to in legal terms?
Intent is the mental state of a person at the time of committing an act, defined as a conscious objective to engage in prohibited conduct.
What is Mail Fraud?
A person commits Mail Fraud when he engages in a scheme to defraud, with intent to defraud, and uses the mails in furtherance of that scheme.
What is Tax Evasion?
Tax Evasion is the intentional illegal nonpayment or underpayment of taxes owed.
What is Wage Theft?
Wage Theft occurs when an employer doesn’t pay an employee the benefits they’ve earned.
What is a Ponzi Scheme?
A Ponzi Scheme is a scam that promises high returns in a short time, paying off early investors with money from newer investors.
Who is a Ponzi Scheme named after
Charles Ponzi who infamously bilked investors out of millions of dollars in the 1920s in the North End of Boston
What is Business Email Compromise (BEC)?
Business Email Compromise (BEC) is an email-based social engineering attack aimed at defrauding its victims.
What is Ransomware?
Ransomware is a type of malware that locks or encrypts a victim’s computer files until a ransom is paid.
What is Bribery?
Bribery is the corrupt offering, giving, receiving, or soliciting of something of value to influence the actions of an individual.
What is Insider Trading?
Insider trading is the trading of a public company’s stock based on material, nonpublic information about the company.
What is Racketeering?
Racketeering is engaging in a pattern of illegal activity within an enterprise for profit.
What is the RICO Act?
The Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law that imposes penalties for acts committed by organized criminal enterprises.
What is Cyber Crime?
Cyber Crime is a criminal activity committed using a computer, such as fraud or theft.
What is Identity Theft?
Identity Theft is the fraudulent acquisition and use of another person’s personal identifying information without permission.
What is Relief Funding Fraud?
Relief Funding Fraud is the intentional misrepresentation to obtain government or private assistance intended for aid.
What is a Kickback?
A Kickback is an illegal payment given to a person in power in exchange for awarding a job or contract.
