This term has been derived from the typical image of the qualified professional who is dressed smartly at office. White shirts are generally considered very formal and ideal for an office environment, hence the term. Their motives are by and large related to acquiring more wealth than they deserve and this is accomplished by a variety of means. The danger here is that white-collar criminals are almost always sufficiently qualified and tech-savvy enough to commit a variety of cybercrimes. They are also more difficult to catch as, being well educated and higher up the social ladder, they are more likely to know the ropes and will always have an excellent backup plan to implement or law loophole to worm their way out of. Having multiple bank accounts in different banks or countries or openly exhibiting a lifestyle far more lavish than the job makes possible are two things that could give a white-collar criminal away, however.
In the fast-paced and intensely competitive world of today, there are winners and losers. It is not uncommon, however, for many who have lost out in the rat race to blame the company they work for. After having lost their job to another or getting a pay cut, certain individuals become obsessed with the idea of revenge against the “big bad” corporation. The fact that they have been working for their company long enough to have an understanding of the inner workings of the company makes them a formidable threat indeed.
In fact, employees account for as much as 75% of all computer crimes committed for monetary purposes. Known as insider threats, disgruntled employees whose talents go in the wrong directions can bring down the entire network of the company they work for with much effort than professional hackers working outside the company. However, if the employer is observant, it is usually possible to narrow down the range of suspects simply by observing the body language and habits of the company employees.
Patient criminals are much harder to catch as their negative state of mind is not instantly obvious.
Not all dissatisfied employees wish to cause their employers harm. There are those who are doing well in spite of the intensely competitive nature of the economy but cannot help desiring more than what they have. As a result, such employees are far more likely to take things easy while achieving their aims. As they are in no hurry to get rich and usually have a well-planned long-term agenda, they are likely to commit minor acts of theft over many years before quietly and inconspicuously absconding with the money. Data diddling, the art of tampering with data, is a crime many white-collar criminals commit to make small increments to their salary or bank account.
Such criminals are much harder to catch than the previous type as their negative state of mind is not instantly obvious and people in general tend not to notice when small amounts of money go missing. But if an extremely patient employee were to steal just $10 from each of the thousand or so accounts he hacked into, he would be a very rich man without any particular individual being severely affected. Of course, the company’s assets would be greatly reduced over time but by the time financial analysts realize this, the perpetrator would have long gone.
Financial crises can occur at anytime to anyone. These can be highly unpredictable, ranging from medical crises to legal problems which need huge amounts to money to alleviate. Financial crisis can also come about due to one’s gambling habits or lavish lifestyle. Here, one’s character and integrity comes into play as he or she could handle the situation poorly by attempting to break into one’s company’s funds and make away with exorbitant sums of money. Desperate white-collar criminals are easiest to catch as the very nature of their crisis leads them to take rash and unplanned actions. A sudden and conspicuous drop in funds would immediately raise the alarm and if the perpetrator tries to flee, he or she will only make matters worse.
Criminals come from every level of society and it is not surprising that a very significant proportion of crimes are committed by those in the upper echelons of society. It is thus necessary to be aware of the types of personalities working in a company and to be prepared to take rapid action if and when necessary.
National Check Fraud Center Website
The rise of the white collar hacker