MCAB - Major Crimes Affecting Business (Module Overview)

Major Crimes Affecting Business Overview

Introduction

White-collar crime is the name given to define crimes that are committed by businesses and individuals associated with businesses as well as crimes committed against a business or corporation. Many crimes we will discuss can vary among severity, among venues, and among regional, national, and international jurisdictions. White-collar crime can be committed by individuals, small groups of individuals, businesses, corporations, and even within governments.

White-collar crimes are generally non-violent crimes, directly or indirectly, with an aim for financial gain. White-collar crime has become a major focus in recent years. In this module, we will focus on crimes that businesses commit, crimes committed against a business, technology related crimes, and how a business can prevent crimes from taking place.

Key Terms

Review your key terms for the module below.

Insurance Fraud – when an individual creates an insurance scheme to improperly collect on an insurance policy

Embezzlement – improperly taking money from someone to whom you owe some type of duty

Securities Fraud – when someone inside a company trades company information in violation of duty and obligation

Ponzi Schemes – a business related scam where money is fraudulently taken from investors

Tax Evasion – when the perpetrator attempts to avoid taxes that would otherwise be owed

Mortgage Fraud – when a borrower uses illegal actions to acquire a house

Financial Fraud – an intentional act of deception involving financial transactions for purpose of personal gain

Corporate Fraud – designed to hide the actual financial condition of a corporation or business entity

Financial Institution Fraud – when bank employees use their access to accounts and systems and knowledge of policies to commit fraud

Money Laundering – filtering illegally obtained money through a series of transactions designed to make the money appear legitimate

Mortgage Fraud – fraud aimed to misuse the mortgage lending process to steal cash and equity from lenders or homeowners

Cybercrime – crimes involving unauthorized access to computers, computer systems, computer programs, or networks

Hacking – breaking into computer systems with intentions of altering existing computer settings

Viruses – a set of computer instructions that are designed to modify, damage, destroy, or transmit information within a computer system or network without the permission of the owner

Denial of Service Attacks – when an attacker floods the bandwidth or resources of a targeted system or server and prevents legitimate users from accessing information or services

Ransomware – a type of malware that encrypts, or locks, valuable digital files and demands a ransom to release the files

Identify Theft – when someone unlawfully obtains another’s personal information and uses it to commit theft or fraud

Module Lessons Preview

In this module, we will study the following topics:

Crimes the Business Commits
In this lesson, we will take a further look in the types of crimes committed by businesses.

Crimes Against a Business
In this lesson, we will examine different types of crimes that are committed against a business.

Technology Related Crimes
In this lesson we will take a deeper look at technology related crimes affecting businesses.

How a Business Can Prevent Crimes
In this lesson, we will review some best practices for businesses to employ to prevent crimes.

IMAGES CREATED BY GAVS