Definition: Violation of criminal law committed by a person of a high social class.
Did you know?
Money laundering: The concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.
Fraud: Wrongful or criminal deception intended to result in financial or personal gain.
Bribery: The giving or offering of a bribe.
Forgery: The action of forging or producing a copy of a document, signature, banknote, or work of art.
Very difficult to detect: The people that are doing this are very skilled and they plan out how to cover up their trail.
What can you do?
Racketeer Influence and Corrupt Organization (RICO). In 1970's and 1980's involved mafia, but changed to white collar crimes.
Create fraud awareness program for employees.
Have companies look over everything. More than just 1 or 2 people.
Use background checks when hiring
Watch work of other and make sure that employees know they are being watched.