What Types of White-collar Crime Are the Most Common?

White-collar crimes are illegal activities done in a place of business. These activities are not the same as walking into a liquor store and holding it up. Rather, corporate executives and other persons of importance in businesses are usually guilty of committing white-collar crimes. Momo Locksmith helps protect businesses from white-collar crime with advanced access, security, and camera systems. Here are the most common types of white-collar crime in the United States.

Bankruptcy Fraud

If a business hides its assets and then files for bankruptcy claiming it cannot pay its debts, it has just committed bankruptcy fraud. Personal bankruptcy can also be fraudulent if the person filing for bankruptcy also hides his or her assets. Depending on the business’ structure, corporate officers may also commit fraud if they hide their personal assets instead of using them to bail out the business.

Corporate Fraud

Corporate fraud is different from bankruptcy fraud. Corporate fraud charges include falsifying corporate financial records, impeding the SEC and other regulatory bodies, and insider trading. Homemaker extraordinaire Martha Stewart was jailed for securities fraud among other charges when she sold stock after receiving an insider trading tip. ENRON’s falsified financials is another example of corporate fraud.


Imagine you work for a wealthy businessperson who relies on you to handle the books. Over the years, you have skimmed profits off the top and deposited them into an offshore account for your usage. You deserve the “bonuses”! Or, imagine you’re running for office and you use campaign contributions for your personal needs. In either case, you’ve just embezzled funds and committed a white-collar crime. 


Imagine you’re a Mafioso (haven’t we all at one point or another) who approaches businesses and demands money in return for protection. Businesses that don’t pay will be burned to the ground. Imagine you aren’t a Mafioso but are still demanding money to keep a secret. Extortion is the former and blackmail is the latter. Both are white-collar crimes. You cannot illegally extract money from people.

Ponzi Scheme

A Ponzi scheme (named after Charles Ponzi) is an investment scam. The scam guarantees high returns with no risk. The runner of the scheme uses new investors to pay off old investors. When the runner can no longer secure new investors, the money runs out all investors discover to their dismay that they’ve lost everything. Bernie Madoff is the most famous runner of a Ponzi Scheme in the 21st Century.

Protect your business from white-collar crime by calling Momo Locksmith at 914-219-0338 or 718-475-2353. We’ll inspect your business and recommend a security and lock system designed to prevent corporate loss. We service The Bronx, Westchester County, and NYC.

Call Momo Locksmith at 914-999-2930 or 718-796-0618 for an appointment today!

Photo by Keith Brofsky from Photo Images via Canva Pro

Accessibility Toolbar