Credit Card Fraud And Money Laundering - 2028 Words

Running head: CREDIT CARD FRAUD MONEY LAUNDERING 1 White Collar Crime: Credit Card Fraud and Money Laundering Datuawn Frazier Lillian Esedebe Morrisville State College CREDIT CARD FRAUD MONEY LAUNDERING 2 Abstract In this paper we will be exploring white collar crime and specifically credit card fraud and money laundering. We will be discussing what exactly credit card fraud entails and how it takes places explaining the different methods of how criminals can steal your information ranging from skimming to hacking into some ones iCloud. We will also be giving examples of to protect yourself from becoming a victim of credit card fraud and how to avoid traps that thieves set to steal your information as well as what steps to take once you became a victim of credit card fraud. In reference to money Laundering we will the complex process of how criminals launder money and make illegally profits seem legit and how it is. In this paper we will explain some famous criminal cases that involve credit card fraud. Also we will discuss how identity theft coincides with credit card fraud. CREDIT CARD FRAUD MONEY LAUNDERING 3 White Collar Crime: Credit Card Fraud and Money Laundering In 1939 sociologist Edwin Sutherland defined white collar crime as a financially motivated crime committed by a person of high social status today the FBI defines white collar crime as crimes that encompass a variety of nonviolent crimesShow MoreRelatedBank Fraud956 Words   |  4 PagesBank fraud is a crime that has been around as long as banks themselves. Anytime there is a large amount of money floating around, there are going to be people trying to figure out ways to get to it. In the United States, and most other developed countries, bank fraud is a serious problem that causes billions of dollars in damages every year, and is considered a federal offense. In China bank fraud is even punishable by death. 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