White-collar crime involves financially-oriented criminal activities by high-status individuals, resulting in significant harm. The term 'white-collar crime' has a broader application than 'economic crime' as it specifies fraudulent acts by professionals.
White-collar crime encompasses fraudulent or financially-oriented criminal activities by high-status professionals or businesspeople, often resulting in more substantial harm than conventional street crime. These crimes are typically committed for financial gain and involve individuals of respectable social standing in the course of their occupations. Notably, the term 'white-collar crime' coined by Edwin Sutherland in 1939 has a broader application than 'economic crime' as it focuses on fraudulent acts by professionals rather than solely economic offenses.
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