Black Collar Crime White Collar - 1828 Words

Introduction: Sometimes known as the ‘victimless’ crime, White Collar Crime includes crimes such as fraud, embezzlement and, more often than not, results in the criminal profiting money-wise which is one of the biggest lures into White Collar Crime (WCC). WCC, has become more and more easier and accessible as businesses move closer towards technology and further away from paper documents which makes it easier to commit WCC as, if you knew what you were doing, you could cover your tracks easier than it would be for if you were forging papers and changing names as you would have to have the right paper, change the names without it being noticeable etc†¦ which means, that in this day and age of technological advances, it is easier to commit†¦show more content†¦The social effects on businesses are there because fraud usually comes with a ‘breach of trust’ which would come about by an employee misusing his or her power within the business (whether minimal or great) as well as the employers trust. Another breach of trust would come about through fraudulent companies such as those who convince people, usually the old and infirm as they are the most vulnerable, to buy their products only to find out that the compan y had just ripped them off for hundreds, or even thousands of pounds which could plummet many into all sorts of debts which could have an effect on the whole family’s future as this could mean that the family have just lost all of their life savings when they entered into a deal to increase their life savings when, in fact, the company would embezzle that money for themselves. In America, $2 trillion is spent on medical care each year. However, only $1,920,000,000,000 is actually spent on the care as $80 billion is stolen annually through Health Care Fraud each year. It is estimated that over 1.5 million people in American have their medical identities stolen through medical fraud each year and the average cost to get your medical identity back is $20,160. Blue Collar: Blue Collar Crime also has its consequences; however, BCC can impact victims more than just financially. Firstly, Blue Collar Crime such as theft and burglary do have their financial impacts just like WCC,