As professional fraud examiners, investigators, prosecutors and regulators, security leaders can all appreciate that white-collar crime is not subsiding. While it is committed in professional or business settings involving financial deception or manipulation, it continues to grow and pose significant challenges to society. To effectively combat and mitigate this type of crime, it is crucial to delve deeper into the key factors of white-collar crime.
Industry cultures that lack effective controls, regulations and a foundation of trust create an environment ripe for white-collar crime to flourish. Norms and intense competition can also contribute to the emergence of fraudulent practices within organizations. Finding and addressing vulnerabilities within industry cultures is vital for preventing and mitigating white-collar crime.