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law 3220 > Chapter 5 White Collar Crimes > Flashcards

Chapter 5 White Collar Crimes Flashcards

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1
Q
  • Illegally restraining trade and promoting anti-competitive behavior
  • Illegal practices that antitrust laws target include
  • Predatory acts to achieve and maintain a business monopoly
  • Price-fixing conspiracies
A

Antitrust

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2
Q

Ex. A federal judge ruled that NCAA’s rules prohibiting athletes from being paid for use of their names, images and likeness violate antitrust law because they “unreasonably restrain trade”

A

Antitrust

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3
Q

Ex. Agreements between competitors that establish boundaries for pricing such as setting a minimum or maximum price on goods.

A

Antitrust

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4
Q

Person or corporation hides or lies about assets in a bankruptcy proceeding

A

Bankruptcy Fraud

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5
Q

Ex. Debtor conceals assets to avoid having to forfeit them

A

Bankruptcy Fraud

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6
Q

Ex. Including false information on a bankruptcy form

A

Bankruptcy Fraud

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7
Q

Offer or taking of money, goods, or services to influence official actions or decisions

A

Bribery

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8
Q

Ex. A security officer in a company accepts a bribe from criminals to allow access to the building for theft

A

Bribery

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9
Q

Ex. An executive demands a bribe to promote a person who would otherwise not have been selected for promotion

A

Bribery

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10
Q

Copying items without authorization - money, designer clothing, trademarks and copyrights

A

Counterfeiting

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11
Q

Ex. Using counterfeit money to make purchases

A

Counterfeiting

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12
Q

Ex. Creating copies of Nike shoes without permission from the company

A

Counterfeiting

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13
Q

Unauthorized use of a credit card

A

Credit Card Fraud

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14
Q

Ex. Making purchases with a stolen credit card

A

Credit Card Fraud

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15
Q

Ex. Unauthorized use of a debit card to get cash

A

Credit Card Fraud

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16
Q

Ex. Credit card fraud that also involves using a computer or the internet (make unauthorized purchases online)

A

Computer and Internet Fraud

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17
Q

Ex. Using a computer to access unauthorized financial records of another

A

Computer and Internet Fraud

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18
Q

Ex. Unauthorized use of a company’s computer

A

Computer and Internet Fraud

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19
Q

Theft or misuse of valuable business information, like trade secrets

A

Economic Espionage

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20
Q

Ex. Person with proprietary access to information (like the recipe for Coca Cola) unlawfully sells the recipe to a 3rd party

A

Economic Espionage

21
Q

Person in position of trust takes money or property for his/her own use

A

Embezzlement

22
Q

Ex. Bank teller who pockets customer deposits

A

Embezzlement

23
Q

Against federal (EPA) and state laws

A

Environmental Law Violations

24
Q

Ex. Illegal hazardous waste dumping, ocean dumping by cruise ships, oil spills, illegal handling of hazardous substances (pesticides, asbestos, etc.)

A

Environmental Law Violations

25
Q
  • Applies to banks and financial institutions

- Bank fraud in providing loans, financial documents, mortgages

A

Financial Fraud

26
Q

Governs contracts between the government and public agencies

A

Government Fraud

27
Q

Ex. 3rd party bills the government agency for goods never delivered

A

Government Fraud

28
Q

Over-billing and scams by hospitals, doctors, ambulance services, laboratories, pharmacies, extended care facilities

A

Healthcare Fraud

29
Q

Ex. Billing for services not rendered

A

Healthcare Fraud

30
Q

Ex. Incorrect reporting of diagnosis

A

Healthcare Fraud

31
Q

Ex. False issuance of prescription drugs

A

Healthcare Fraud

32
Q

Person trades a security while in possession of material, non public information

A

Insider Trading

33
Q

Ex. The CEO of a company divulges important information about the acquisition of his company to a friend who owns a substantial shareholding in the company. The friend acts on the information and sells all his shares before the information is made public.

A

Insider Trading

34
Q

Fraud in insurance issues

A

Insurance Fraud

35
Q

Ex. Insurance company charges higher rates than allowed by state regulators

A

Insurance Fraud

36
Q

Ex. Policyholders lie about condition of property to get lower rates

A

Insurance Fraud

37
Q

Ex. Policyholders pad their claims to get more money

A

Insurance Fraud

38
Q

Sending fraudulent materials through the U.S. Postal Service or using the U.S. Postal Service to communicate fraudulent activities

A

Mailing Fraud

39
Q

Ex. Mailing documents that solicit sensitive information. For example, a victim receives a fake credit card application in the mail asking for their name, address, social security number and phone number. With this information, a criminal may use that person’s identity, or sell it to another

A

Mailing Fraud

40
Q

Hiding the truth about the origins of money, especially illegal activities

A

Money Laundering

41
Q

Ex. A fake company is set up to hide illegal drug activity, in the form of a pizza restaurant. The pizza restaurant appears to be legitimate, but is funded with drug money. Financial records of the restaurant are inflated to reflect money received from illegal drug activities as opposed to the actual pizza business

A

Money Laundering

42
Q

Ex. Failure to file tax returns

A

Tax Evasion

43
Q

Ex. Failure to report income

A

Tax Evasion

44
Q

Ex. Overstatement of expenses

A

Tax Evasion

45
Q

Weapon against organized crime (like the Mafia)

A

RICO Act

46
Q

RICO Act criminalizes three activities:

A

(1) Using illegal income to acquire, establish, or operate an enterprise
(2) Acquiring an interest in such an enterprise
(3) Using an enterprise to collect a debt

47
Q

Ex. Using the phone to solicit people to buy goods and services (when those goods/services do not actually exist), invest money in a fake investment fund, or donate to fake charitable causes

A

Telephone and Telemarketing Fraud

48
Q

Use of telephone to defraud victims to send money

A

Telephone and Telemarketing Fraud

law 3220 (14 decks)

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