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White-collar work used to mean a high level of education and the assumption of securing a cushy job with perks. That distinction today is blurred by the fact that white-collar employment has become the dominant working class in the U. American writer Upton Sinclair is partially responsible for the modern understanding of the term "white collar," having used the phrase in conjunction with administrative work.

The differences in connotation between white collar and blue collar have much more to say about the way we perceive the service industry in comparison to manufacturing and agriculture. Typical white-collar jobs include company management, lawyers , accountants, financial and insurance jobs, consultants, and computer programmers, among many others. Many jobs that require a shirt and tie today are actually low-paying and high stress, especially in the modern services and technology sectors.

There are white-collar workers' unions, though, historically, union membership has been a distinction of blue-collar workers. Expectations of White-Collar Jobs White-collar positions are often expected to offer opportunities to advance to more significant roles as managers or executives. A white-collar role is likewise expected to generate higher paying salaries with the potential to continue to rapidly scale up their income with further advancement.

These jobs typically are based in an office; however, some industries may still require a presence in the field. This is especially true for professionals who regularly meet with clients and customers, or travel to conferences and meetings. Attorneys, accountants, architects, bankers, real estate agents, business consultants, and brokers are often described as white-collar positions. Though the actual work performed typically is not menial, white-collar roles can require the professional to commit to extensive hours during the workweek, as well as on weekends.

White-collar professionals may be expected to be on call even during vacation times and outside of normal business hours. At senior levels, they may be part of a firm's upper management and hierarchy. A white-collar crime is a non-violent crime committed by an individual, often of middle or upper socioeconomic status, typically for financial gain. White-collar workers are often expected to develop specialized skills over time, making them increasingly valuable intellectual assets for the growth of the company.

For example, an accountant may have to keep abreast of all regulatory changes that could affect how their clients or company reports income. An attorney will need to keep themselves apprised of recent rulings and changes in case law that affect their area of expertise. Real estate agents will need to keep track of fluctuations in real estate prices and the underlying influences that drive such trends. Other "Collars" White collar is often contrasted with blue-collar jobs.

Blue-collar jobs are typically classified as involving manual labor and compensation by an hourly wage. Some fields that fall into this category include construction, manufacturing, maintenance, and mining.

Those who have this sort of job are characterized as members of the working class. The blue-collar worker is often perceived as lower-status than a white-collar worker who might work behind a desk in the service industry, while the blue-collar worker gets their hands dirty doing manual labor or manufacturing.

Other types of colored collar categories of workers are used less often. White-Collar Crime — Punishments The convict can face any number of punishments, including fines, restitution, probation, and imprisonment.

The culprit may be able to avoid jail time by cooperating with investigators or entering into a plea agreement. However, with an extensive criminal record or if the crime is particularly severe, the judge may sentence to prison time. When it comes to sentencing guidelines for white-collar crimes, there are no hard and fast rules. Depending on the circumstances of the case, a court might order that they pay restitution in addition to other penalties like probation and community service hours.

If even one victim suffers significant financial harm, the Federal Sentencing Guidelines recommend a longer prison sentence. Lustig returned the money two months later, but without the extra, he had promised. He had deposited them in a bank to earn interest. The scam was perpetrated by two junior bank officials issuing Letters of Undertaking LoUs to companies linked to diamantaire Nirav Modi. A bank guarantees another bank that they will pay the amount on the specified date in the form of Letters of Undertaking.

When the scheme collapsed, many people lost their life savings. Madoff was given a year prison sentence and his long-time secretary, Annette Bongiorno, received ten years. Bernard L. Conclusion White collar crime is committed by people usually in positions of power and authority, and they use their knowledge and position to commit crimes. Some people do it for the thrill and money and because they think they will get away with it.

People should be aware of the types of fraudulent scams to stay safe from white-collar crime. One should not give out personal information like social security numbers or bank account numbers to anyone unknown or untrustworthy. Always research financial offers, which might be scams. Who coined the term white-collar crime? White-collar crime is when someone commits a crime for financial benefit. It is usually a nonviolent crime. Edwin Sutherland, a sociologist from the United States, coined the term in What is the most common white-collar crime?

Individuals or corporations commit white-collar crimes. White-collar crimes include fraud, embezzlement, insider trading, money laundering, and more. The most common white-collar crime is tax evasion when someone illegally avoids paying taxes. Why do white-collar crimes go unreported? How to report a white-collar crime? The victim may feel embarrassed or ashamed or may not want to draw attention to their own business dealings.

Sometimes the victims are not even aware that a crime has been committed. One can file a complaint at the local police station or write it online to the FBI to report the crime. Who are the victims of white-collar crime?

White-collar crime victims are typically individuals or businesses who suffer financial loss as due to the crime. It can include everything from identity theft to fraud and embezzlement. In addition to the direct financial loss, white-collar crime also affects society and the economy. For example, fraud can lead to higher prices for goods and services. What is the punishment for white-collar crime? The punishment depends on the severity of the offense and the jurisdiction of the commitment of the crime.

However, common punishments for white-collar crimes include fines, restitution, community service, and prison sentences. Offenders may also be required to forfeit their ill-gotten gains.

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White Collar Pictures mitigates investment risk via pre-existing contacts with all the Unions, Guilds and by utilizing various tax rebates, subsidies, and International pre-sales, substantially . There are four main types of white-collar crime: fraud, corruption, money laundering, and cybercrime. These crimes are typically nonviolent, and the perpetrators do not use weapons. . Jun 5,  · Forex Analysis by Matthew Weller covering: EUR/USD, USD/CHF, Automatic Data Processing Inc. Read Matthew Weller's latest article on UK. Breaking News .