What type of crime involves deceit for financial gain?

Prepare for the Legal Environment of Business 1 Exam. Utilize flashcards and multiple choice questions with detailed explanations. Sharpen your knowledge for the test and enhance your legal understanding in business!

The correct answer is white-collar crime. This term specifically refers to non-violent, financially motivated crimes that are typically committed by individuals, businesses, or government officials in their professional life. The essence of white-collar crime is the use of deceit and manipulation in order to gain an unfair advantage or to achieve financial benefits. Common examples include fraud, embezzlement, insider trading, and money laundering.

This type of crime is characterized by its non-violent nature, where the primary goal is economic gain rather than physical harm. It often exploits trust and occurs within commercial or professional settings, affecting businesses and institutions rather than individuals directly. Understanding the nature of white-collar crime helps in recognizing its significant impact on the economy and society, which is essential for legal and business professionals.

While other options represent different categories of crime, they do not fit the specific description of deceit for financial gain as closely as white-collar crime does. Violent crime involves acts that cause physical harm to individuals, public order crime relates to offenses that disturb public peace, and organized crime refers to ongoing criminal organizations that engage in illegal activities. Each of these categories has distinct characteristics that do not center specifically on financial deceit.

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