What are White-Collar Crimes?
You may have heard a lot about white collar crimes but often media reports on the matter are vague. If this has left you wondering exactly what a white-collar crime is, we are here to help. This is especially important if you have been charged with a white-collar crime. The laws concerning business-related crimes are complicated and will cause you to feel very overwhelmed if you find yourself on the wrong side of the law. This article will help you understand what white collar crimes are, going into further detail about each type.
White-collar crime is a general term for any crime that is non-violent in nature that is committed for the purpose of financial gain. According to the FBI, “these crimes are characterized by deceit, concealment, or violation of trust and are not dependent on the application or threat of physical force of violence.”( https://www.fbi.gov/investigate/white-collar-crime) The term comes from the fact that white collar workers, such as a business managers or executives, typically commit these crimes. Not only do these individuals often end up with hefty fines or jail time for these crimes, the federal government goes after banks and institutions that commit these crimes on an institutional level.
What Is Fraud?
A common type of white collar crime is fraud. This is a broad term, and there are many other crimes that fit in this category. One type of fraud is securities fraud, which is most commonly used to describe crimes like insider trading. These crimes typically occur when someone with inside information about a company uses this information to mislead others or to gain an advantage in the stock market. Mortgage and insurance fraud are also very common types of fraud.
What Is Embezzlement and Money Laundering?
Embezzlement is a crime where someone takes money improperly from a place of work or from someone who pays the worker for a job. Typically, this occurs when an employee steals money from the company that they work for by taking the money and siphoning it into their own personal bank account. Money laundering is when someone takes money that was obtained illegally, such as misbegotten money from selling drugs, and then goes through a process that makes it appear as if it were clean money.
What Is Tax Evasion?
Tax evasion is a white-collar crime when a person avoids paying the taxes which they owe. This is often done through a variety of techniques such as falsifying information on tax forms and transferring assets and properties to avoid obligations for taxes.
What Should I Do If I Am Accused of One of These Crimes?
What makes these crimes so difficult to understand is the fact that there are federal and state laws that have various punishments associated with these crimes. For this reason, it is crucial for you to have a criminal lawyer who specializes in these types of crimes to represent you. Such an attorney knows all of the details of these laws and will give you the best advice in regards to what to do with your specific situation. Getting a lawyer is your right and you can be sure that they have your best interests at heart. We can help with your white collar crime case, call Broward County’s top criminal lawyer. 1-954-462-1005