For the past 20 years, the two major components of economic crime have been:

The identification of white-collar crime and ordinary crime as the two major components of economic crime over the past 20 years highlights the evolving nature of criminal behavior in the context of economic activities.

White-collar crime typically refers to non-violent crimes committed for financial gain, often by individuals or organizations in positions of trust and authority. This category encompasses various illegal activities such as fraud, bribery, corruption, and insider trading, which have become increasingly prevalent due to the complex financial systems and corporate structures present today.

On the other hand, ordinary crime generally refers to traditional forms of crime that affect individuals and communities, such as theft, burglary, and assault. This distinction is important because while both types of crime can result in significant economic losses, white-collar crime is often more associated with the manipulation of trust and exploitation of the financial systems.

The recognition of both white-collar and ordinary crimes as major components underscores the need for protective measures in various sectors and elevates the importance of security professionals in mitigating and addressing these risks, as they require different strategies for prevention and detection. This contextual understanding is vital in developing effective security measures and policies tailored to combat each type of crime’s unique challenges.