A white-collar crime includes a number of different types of crimes. Some are more complex than others. These crimes are called white-collar crimes for the simple reason that they are generally committed by people who typically wear collars or who are otherwise professional and working in a professional capacity. That is, as opposed to street crime, white collar crime is usually committed within established businesses and companies.
Generally speaking, white collar crimes are financially motivated. They also generally involve deceit of some kind. For example, embezzlement, fraud, Money Laundering, extortion and Tax Evasion are all types of white-collar crime. Scams or other deceitful, fraudulent actions are usually involved in some way. The victims of white collar crime may have been lied to or told a dishonest fact that led them to losing money.
Types of White Collar Crime
The first and one of the most common types of white-collar crime is fraud. Fraud centers around crimes that involve monetary gain that comes from the deceit of an individual or party. There are several types of fraud. For example, securities fraud would involve crimes such as insider trading.
Another type of fraud includes healthcare fraud. For example, if you were to receive a health bill that included added expenses or procedures that you never had, this could lead to a charge of fraud. Other types of fraud include business-related scams, or other insurance frauds.
Embezzlement is another common type of white-collar crime. In an embezzlement situation, someone is improperly stealing funds from someone who that person owes a job or duty to. For example, an employee who acts as an accountant or money manager for a larger institution may decide to siphon money into their own personal account from the funds of the company, and this would be an example of embezzlement. Even if the individual has the intent of paying back the funds as soon as they can, it is still an embezzlement crime.
Money-laundering is another type of white-collar crime. Some individuals or parties who may deal in criminal acts will attempt to filter the illegal funds that they obtained through their criminal acts into the legal monetary system. There are three main steps to Money Laundering. First, the party puts money into a bank or another financial organization. The funds are then filtrated through several complex transactions. This makes it more difficult to find the dirty money. The final step includes integrating the newly cleaned money into the legal monetary system so that purchases can be made in a technically legal way.
4. Tax Evasion
Tax evasion is yet another type of white-collar crime. There are several types of Tax Evasion, but what they all have in common is that the individual or business filing the taxes is trying to avoid paying them in an illegal way. Attempting to pay the least amount of taxes possible is not a crime, but it is illegal to lie about your income on your tax forms so as to pay less.
An Attorney Can Help You
There are numerous other types of white-collar crimes. It can be difficult to face these charges, but depending on the charges, there are numerous ways that an attorney can help you.
What’s important is to speak to an attorney as soon as possible. That’s because as soon as the prosecution brings a case against you and indicts you, it is the ethical duty of the prosecution to try you for the harshest possible punishment. But if you can hire a reputable attorney to negotiate on your behalf before an indictment, you have a much greater chance of success in your case. Talk to an attorney today to explain your situation and hear your options.
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