Embezzlement is a form of white-collar crime that occurs when an individual or entity misappropriates the assets he or she has been entrusted to manage. While embezzlers attain the assets in a lawful way, they proceed to use those same assets unlawfully.
The embezzler often disguises the transfer of funds as legitimate transactions by creating bills and receipts for activities or services that never took place. Another common disguise is the use of seemingly authorized accounts in order to receive payments or transactions. Embezzlers often collaborate with other parties, for example consultants or contractors, who issue invoices for services that are never performed.