White Collar Crime Exam 3 questions
with verified answers
What is finance crime? - ANS ✔✔refers to large-scale illegality that occurs in the world of
finance and financial institutions.
What are the different ways in which finance crimes may be committed? - ANS ✔✔Finance
crime may be committed:
•On behalf of major financial institutions, such as
banks.
•For the benefit of individuals occupying financially
privileged statuses, such as investment bankers.
What is a thrift crime? - ANS ✔✔
What is money-laundering? - ANS ✔✔Money laundering has been described as the criminal
practice of taking ill-gotten gains and moving them through a sequence of bank accounts so
they look like legitimate profits from legal businessess
Be able to explain the details of the Savings and Loan Scandal/Frauds, including what happened,
the role of the government, and the crime justice response (you are responsible for information
from the text and the film The Inside Job). - ANS ✔✔Look on PPT and TEXTBOOK PAGE 172-173
What are the forms of white collar crime within financial markets? - ANS ✔✔
, What is insider trading? Why is it considered wrong? Who is the victim? Be able to identify
canonical cases of insider trading. - ANS ✔✔Insider trading is a quintessential form of white
collar crime.
•Violation of trust may be a principle attribute of all white
collar crime, bust such violation virtually defines insider trading.
•Many other cases of insider trading involve individuals of
more moderate means simply looking for a quick profit on an investment or to avoid losing
money.
-Individuals with privileged information have always made investment and trading decisions on
the basis of such information.
What constitutes a conflict of interest in financial markets? - ANS ✔✔TExtbook
How might fraud occur in the insurance industry? - ANS ✔✔The financial misrepresentations
and manipulations of
insurance companies put the interests of their clientele in jeopardy
Ex)- Brokers who are supposed to provide unbiased
recommendations on coverage
What is a crime of globalization? - ANS ✔✔1. Crimes of globalization are consequences of policy
decisions of high-level officials of major financial institutions and government agencies who are
attempting to realize positive outcomes.
2. Globalization contributes to an overall increase in
economic inequality, fostering poverty and unemployment for many.
•A new form of the ancient practice of colonization.
How might fraud be a type of professional crime? - ANS ✔✔1. A Professional criminal is anyone
who engages in criminal activity regularly.
2. Contemporary swindles and schemes include:
with verified answers
What is finance crime? - ANS ✔✔refers to large-scale illegality that occurs in the world of
finance and financial institutions.
What are the different ways in which finance crimes may be committed? - ANS ✔✔Finance
crime may be committed:
•On behalf of major financial institutions, such as
banks.
•For the benefit of individuals occupying financially
privileged statuses, such as investment bankers.
What is a thrift crime? - ANS ✔✔
What is money-laundering? - ANS ✔✔Money laundering has been described as the criminal
practice of taking ill-gotten gains and moving them through a sequence of bank accounts so
they look like legitimate profits from legal businessess
Be able to explain the details of the Savings and Loan Scandal/Frauds, including what happened,
the role of the government, and the crime justice response (you are responsible for information
from the text and the film The Inside Job). - ANS ✔✔Look on PPT and TEXTBOOK PAGE 172-173
What are the forms of white collar crime within financial markets? - ANS ✔✔
, What is insider trading? Why is it considered wrong? Who is the victim? Be able to identify
canonical cases of insider trading. - ANS ✔✔Insider trading is a quintessential form of white
collar crime.
•Violation of trust may be a principle attribute of all white
collar crime, bust such violation virtually defines insider trading.
•Many other cases of insider trading involve individuals of
more moderate means simply looking for a quick profit on an investment or to avoid losing
money.
-Individuals with privileged information have always made investment and trading decisions on
the basis of such information.
What constitutes a conflict of interest in financial markets? - ANS ✔✔TExtbook
How might fraud occur in the insurance industry? - ANS ✔✔The financial misrepresentations
and manipulations of
insurance companies put the interests of their clientele in jeopardy
Ex)- Brokers who are supposed to provide unbiased
recommendations on coverage
What is a crime of globalization? - ANS ✔✔1. Crimes of globalization are consequences of policy
decisions of high-level officials of major financial institutions and government agencies who are
attempting to realize positive outcomes.
2. Globalization contributes to an overall increase in
economic inequality, fostering poverty and unemployment for many.
•A new form of the ancient practice of colonization.
How might fraud be a type of professional crime? - ANS ✔✔1. A Professional criminal is anyone
who engages in criminal activity regularly.
2. Contemporary swindles and schemes include:
