What we commonly hear referred to as an "Albino" Oscar is not an Albino at all... It's a Leucistic Oscar. There are many forms of Leucism... and the effects of any of them can be refered to as 'Lutino'...
Luecism, like Albinism... is a Mendelian trait...
For a better understanding feel free to look up Mendelian Genetics... it's a very common way for traits to be passed down and is worth understanding for anyone interested in breeding...
Or you can listen to random speculation offered here