Which of the following is considered a “white-collar crime” in business ethics?

The correct answer is - Embezzlement

Key Points

• Embezzlement
  • Embezzlement is considered a type of white-collar crime involving the unlawful taking of money or property by someone entrusted with it.
  • This crime is typically committed by employees or individuals in positions of trust or responsibility within an organization.
  • Embezzlement differs from other theft crimes because it involves a violation of trust rather than outright physical theft.
  • Examples include manipulating financial records to steal funds, misappropriating company resources, or creating fraudulent invoices.

Additional Information

• White-Collar Crime
  • White-collar crimes are non-violent crimes committed for financial gain. They are typically characterized by deceit, concealment, or violation of trust.
  • Common examples include:
    • Fraud: Deceptive practices to secure unfair or unlawful financial gain.
    • Insider Trading: Trading stocks or other securities based on confidential information.
    • Money Laundering: Concealing the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.
• Differences from Other Crimes
  • Physical Theft
    • Involves the taking of someone else's property without consent, typically through force or stealth.
    • Examples include stealing goods from a store or a person's belongings.
  • Burglary
    • Involves unlawfully entering a building with the intent to commit a crime, usually theft.
    • It is a property crime that focuses on the illegal entry aspect.
  • Workplace Harassment
    • Involves unwelcome and inappropriate behavior in the workplace, such as bullying, sexual harassment, or discrimination.
    • While serious, it is not classified as a white-collar crime but rather as a violation of workplace conduct rules and laws.