White collar crime Outline

Document Type:Outline

Subject Area:Sociology

Document 1

White-collar crime refers to unlawful acts committed by a well off and ‘respectable’ persons in the process of business activities (Schaefer, 2017, p. Money laundering is an example of white-collar crime. It refers to criminal activity in which criminals are covering-up or concealing proceeds belonging to them thereby making the proceeds to look like they originated from sources that are considered legitimate. In other words, money laundering refers to, "simply as turning "dirty" money into "clean" money". Besides, money laundering is frequently associated to crimes that provide gain financially. Investment fraud refers to a sale of illegal financial instruments usually characterized by guaranteed returns, unregistered securities etc. Also, commodities fraud is associated with a sale of unlawful semi-finished goods or raw materials like gold and coffee.

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