Legal Definitions - economic crime

Economic crime is a type of nonphysical crime that is committed to gain financial benefits or professional advantages. It includes crimes committed by businessmen as part of their regular business activities, such as embezzlement, tax evasion, and violating regulations. This type of economic crime is often referred to as white-collar crime. The other style of economic crime involves providing illegal goods and services or providing legal goods and services in an illegal manner.

• Embezzlement by a company's accountant
• Tax evasion by a business owner
• Providing illegal drugs or prostitution services
• Counterfeiting money or products

These examples illustrate how economic crime is committed for financial gain or professional advantage. Embezzlement and tax evasion are crimes committed by businessmen as part of their regular business activities. Providing illegal goods and services, such as drugs or prostitution, is a way to make money illegally. Counterfeiting is a way to make a profit by producing fake money or products.