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Discussion 3 major areas of cost associated with white-collar crime. Apply 2 examples of healthcare fraud and 2 examples of computer crime.

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According to the Federal Bureau of Investigation (FBI), white-collar crime harms business, individuals and families, and investors.

Corporate fraud is one major area of white-collar crime. It can cause significant financial losses to investors, which in turn reduces investor confidence, which may contribute to damage to the US economy. By presenting a false picture of the profitability of a specific corporation, fraudulent activities, including falsification of information and insider trading, may artificially inflate its financial performance.

Healthcare fraud harms both consumers and organizations and may contribute to increased illness and jeopardize public health. Identity theft and obtaining personal information is one type of healthcare fraud; it is often perpetrated online by “phishing.” The sale of inferior or substitute goods is another type of healthcare fraud; an example would be selling a customer a cheaper model of a wheelchair than the one they purchased. Fraudulent billing for services not used, such as tests that were not administered, is another example.

Identity theft as a computer crime has many more applications than healthcare fraud. Through falsely obtained personal information, thieves may tap into an individual’s or a company’s accounts and remove funds. Intellectual property theft is another computer crime. Often referred to as “piracy,” the unauthorized copying and sale of copyrighted materials is costly to the company holding the copyright and the individual artists that it represents.

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