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... > social science subjects > criminology and criminal justice > criminology > white-collar and corporate crime > financial and securities fraud > fiduciary fraud

Preferred term

fiduciary fraud  

Definition

  • FIDUCIARY FRAUD, a branch of white-collar crime that has witnessed rapid growth since the 1980s, involves a breach of trust committed by financial institutions such as banks and savings and loans, insurance companies, financial service companies, and pension funds. Embezzlement by lowerlevel employees, still the most popular form of fiduciary fraud, has been overshadowed by the misdeeds of upper-level staff who mismanage and loot their own companies.A fiduciary, commonly a trustee, possesses powers that normally belong to another person. [Source: Encyclopedia of White-Collar & Corporate Crime; Fiduciary Fraud]

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https://concepts.sagepub.com/social-science/concept/fiduciary_fraud

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