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White collar crime what is it and how we define it. White collar crime is described in a report from the Attorney General by Podger, Israel in White Collar Crime in A Nut Shell (2) and defined as …illegal acts that use deceit and concealment-rather than the application or threat of physical force or violence to obtain money, property, or service: to avoid the payment or loss of money or to secure a business or professional advantage. White collar crime rarely brings about the outrage or gets the lengthy prison sentence that street crimes get. The problem with that is it doesn’t leave any violated or bleeding victims, the person or persons responsible for the crimes are often church going or community leaders. They have become masters of deception, today’s bandits or should I say briefcase bandits were a smile for a mask and disguise there criminal act with a corporate office. These criminals hurt us in our pockets to the tune of $300 billion every year.(Mizell 1) There are a variety of white collar crime that take an assortment of shapes, there are credit card fraud, education, dishonest lawyers, insurance fraud, and last but not least and the most costly is banking and securities fraud. The majority of the white collar crimes are being done by individuals who have obtained a higher education, that is above a four year college degree.
Approximate Word count = 870 Approximate Pages = 3.5 (250 words per page double spaced)
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