If you've already tried the simple thing as in changing the rendering mode within the options menu, you need to install drivers for your graphics card if possible.
Doesn't seem like your computer likes to render transparency that much in this game, hence why you get those black/white outskirts of images.
Go into the start menu, and in the search field write "dxdiag" without the "" and hit enter. Once the new window is loaded, click the display tab and write what it says under "device" for me, or take a screenshot of it.