White collar crimes are explained below.
Explanation:
White collar crimes are the crimes committed by businessmen and government officials, or people with power. People committing white collar crimes are often respectable and reputed in the society. Such crimes may include:
- Money Laundering
- Wage Theft
- Bribery
- Insider Trading
- Identity Theft
- Ponzi Schemes
- Forgery
- Cyber crime
- Labor Racketeering, etc
These are the financially motivated non violent crimes. People committing white collar crimes often make use of their power, position, and status to avoid the punishment on such crimes. These are very dangerous crimes as they stumble the roots of a society.
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