Four Shocking Misconceptions About White-Collared Crime

babies whispering secret

Photo: abardwell via Flickr

The most recent issue of Psychology Today has a short column on four major myths that are widely when it comes to white-collared crime—usually described as an illegal act committed for financial gain.

  1. White-collared crimes are nonviolent—since white-collared crime is usually characterised as non-violent, many are prone to this myth. But criminals in general have a sense of entitlement and need for control. 
  2. White-collar criminals are highly paid—you may be thinking of famous Ponzi schemers like Bernie Madoff or Allen Sanford here, but white-collared criminals also depend on poorly paid underlings.
  3. White-collar criminals are otherwise upstanding citizens—about 40% of white-collared criminals have a record. So, no.
  4. It’s all about cash—Yes, there are poorly paid white-collar criminals, but the mastermind of the crime could be very rich. Researchers say “peer pressure, company culture, and pure hubris” cause people to commit white-collared crimes.

Check out some pieces from the most recent issue of Psychology Today >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.