White collar crime can be tricky to define because it encompasses quite a few different crimes. However, the best way to define it is that it involves finances and does not involve physically harming another person. These two aspects are what set it apart from other criminal acts in North Carolina. As you learn more about common white collar crime activity, you will start to see how such crimes are different than common criminal activities, such as murder, armed robbery and assault.
Northcentral University explains that a white collar crime mainly focuses on a financial reward to the actions taken. People do get hurt as a result but not physically. The harm to others is financial. In some cases, the actions may include fraud as well. Often, these types of crimes occur in a business setting, but that is not a requirement as an individual may commit such a crime all on his or her own.
Looking at the most common crimes, bankruptcy fraud is probably the most common from an individual standpoint. Ponzi Schemes start with one person conning others and then grow to make that first person a lot of money. More common, though, are embezzlement and corporate fraud that impact a business. These actions involve trusted employees who conduct themselves in a way to steal from the company.
It is easy to think that a white collar crime does not do as much harm as other types of criminal actions, but they certainly can cause serious harm. Because these types of crimes involve money, they could devastate someone financially, which can lead to many additional problems. This can hurt a person almost as bad as physical harm. This information is for education and is not legal advice.