Final answer:
1)White-collar crime refers to nonviolent crimes usually conducted in professional settings by individuals in high-status positions, causing substantial economic consequences.
Step-by-step explanation:
The concept coined to refer to crimes committed by individuals of high status in the course of their occupations is white-collar crime. Unlike blue-collar crimes that often involve manual labor and are more visibly detected.
White-collar crimes involve nonviolent, financially motivated illegal activities typically performed by professionals or businesspeople within their legitimate occupations.
Examples of white-collar crimes include embezzlement, insider trading, and identity theft which, although less publicized than violent crimes.
Can have devastating consequences for society, leading to significant financial losses such as seen in the Bernie Madoff Ponzi scheme scandal.