Basic Guideline for White-collar Crimes

A Basic Guideline for White-collar Crimes

All crimes, small or big are punishable by law. White-collar crimes are not violent by nature but it seeks to deceive more people. Although it is not physically violent, it creates emotional turmoil not only for the victims but also their families. There are people who will commit these crimes. If you know one, you should at least know basic things about white-collar crimes.

nature of white-collar crimes

What is the nature of white-collar crimes?

It was Professor Edwin Sutherland that came up with the term white-collar crimes in 1939. White-collar crimes are basically crimes committed to deceiving many people for financial gains. To be able to deceive people, the perpetrators have access to huge amounts of funds. This is the reason why it is usually committed by high-ranking government officials and posh businessmen. These people hold their respective positions until such time that their deceitful activities are discovered.

White-collar numbers

The federal government is doing its best to protect the interests of its constituents. There are many agencies that aim to stop white-collar crimes. If white-collar crimes continue to persist, it can have a great impact on the economy. In the United States alone, fraud cases cost individuals and other businesses roughly $400 billion every year.

Moreover, white-collar crimes mostly happen in companies with fewer than a hundred employees. Of all the white-collar cases, men commit 75%. Every year, there are 5,000 arrests for every 100,000 people. You need to know that 1 out of 4 households will be a victim of white-collar crimes at some point in their life.

What are the common types of white-collar crimes? 

White-collar has different types but our attorneys understand the intricacies associated with white-collar crimes. The most common one is fraud. Fraud refers to intentionally falsifying facts to gain financial profitability. Another example is embezzlement. Embezzlement is the act of siphoning other people’s money and transferring it to your personal account. Money laundering is a common white-collar crime also. It is the process of hiding illegal money and converting it so it appears to come from legitimate sources. Other types of white-collar crimes include bribery, forgery, tax evasion, Ponzi schemes, pyramid schemes, racketeering, health care fraud, bank fraud and many more.

What are the punishments?

The punishments vary depending on the type. For individuals facing criminal charges, our attorneys understand the intricacies associated with white-collar crimes. It can be frightening at first but with the experience and skills of a good lawyer, people facing charges have the best possible outcome. Typically, the penalties include a combination of probation, community service, fines, restitution, and imprisonment.

Where to find lawyers?

There are many avenues that you can utilize to find lawyers whether it is for you or someone else’s. Most lawyers are recommended or referred by others. While you are at it, you also need to check the payment or fee.