White Collar Crime - Term of the Day
n. a generic term for crimes involving commercial fraud, cheating consumers,
swindles, insider trading on the stock market, embezzlement and other
forms of dishonest business schemes. The term comes from the out-of-date
assumption that business executives wear white shirts with ties. It also
theoretically distinguishes these crimes and criminals from physical crimes,
supposedly likely to be committed by “blue collar” workers.