White-collar crime contains several clear components
.It is deceitful. People involved in white-collar crime tend to cheat, lie, conceal, and
manipulate the truth.
.It is intentional. Fraud does not result from simple error or neglect but involves
purposeful attempts to illegally gain an advantage. As such, it induces a course
of action that is predetermined in advance by the perpetrator.
.It breaches trust. Business is based primarily on trust. Individual relationships and
commitments are geared toward the respective responsibilities of all parties
involved. Mutual trust is the glue that binds these relationships together, and it is
this trust that is breached w hen someone tries to defrau d another person or business.
.It involves losses. Financial crime is based on attempting to secure an illegal gain or
advantage and for this to happenthere must be a victim. There mustalso be a degree
of loss or disadvantage. These losses may be written off or insured against or simply
accepted. White-collar crime nonetheless constitutes a drain on national resources.
.It may be concealed. One feature of financial crime is that it may remain hidden
indefinitely. Reality and appearance may not necessarily coincide. Therefore,
every business transaction, contract, payment, or agreement may be altered
or suppressed to give the appearance of regularity. Spreadsheets, statements,
and sets of accounts cannot always be accepted at face value; this is how some
frauds continue undetected for years