Who is a Victim of White Collar Crime?

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  • 0:04 White Collar Crime
  • 0:34 Victims
  • 1:46 Risk Factors
  • 3:23 Lesson Summary
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Lesson Transcript
Instructor: Artem Cheprasov

Artem has a doctor of veterinary medicine degree.

In this lesson, we're going to go over the basics of white collar crime. Namely, you'll learn who can be a victim of white collar crime as well as some of the risk factors for such victimization.

White Collar Crime

Let's hope you've never been a victim of any crime. But if you were to be, do you know what kind of crime you're most likely to be a victim of?

  • A. White collar crime
  • B. Murder
  • C. Burglary
  • D. Robbery

The answer is white collar crime. White collar crime refers to a nonviolent offense committed via deception and for financial gain. Examples of white collar crime include forgery, embezzlement, and fraud.

Let's go over the victims and risk factors behind white collar crime.

Victims

So who might be a victim of white collar crime? You! Literally any person might one day become a victim of white collar crime. Let's use a hypothetical example or two.

Bill was a victim of fraud as he was promised an amazing investment in the stock market, sold his house to invest in it, and was never given anything in return. Amy was a victim of forgery when she lost her checkbook and had someone cash a check in her name. Jill is an elderly woman who entrusted her caretaker to make a payment on her mortgage. She gave the caretaker the money only to have the caretaker embezzle it.

And what about Joe? Joe recently had his social security number, name, address, driver's license number, and credit card information stolen when a large corporation, we'll call ''Equihacks'', didn't properly secure his sensitive data and had it all stolen. Joe had his identity stolen as a result. Someone opened up a credit card in his name with all that information and then used it to buy a vacation to the Bahamas that Joe now has to pay for.

Of course, not all victims of white collar crimes are individuals. Some are corporations. The best example of this is by far Bernie Madoff, who defrauded individuals, companies, and even nonprofits out of billions of dollars in history's largest Ponzi scheme.

Risk Factors

So who is at risk of being a victim of white collar crime?

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