What are White Collar Crimes?
White collar crimes are crimes committed by generally people of high respectability and high social status in the course of their occupation. †But now a days it can be seen that many white collar criminals are not of high social status and many are not respected people. †It can also be defined as . The characteristics of white collar crime are:
- Means of crimes differ from the traditional crimes as fraud, misappropriation, misrepresentation, adulteration, malpractices, irregularities etc.
- When socio economic crimes are committed people tend to tolerate them because they themselves indulge in them and they themselves often identify with those who do so.
- The victims of socio economic offences are normally the entire community, society or even the entire nation besides the individual like Satyam company scam and Enron company of USA.
- These crimes constitute a separate category because the control of such crime involves the protection and preservation of the general health and economic system of the entire society against the exploitation and waste.