White Collar Crime
It is also vital to seek out the proper legal counsel to assist with your case. White collar crimes can cover a wide variety of offenses and carry a diverse assortment of potential punishments and consequences.
Without the right legal representation, you will be left alone to face the legal system. To ensure you are treated justly and fairly and receive the least severe punishment, you need a qualified legal defense.
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with the White Collar Crime Attorney today!
What Is A White Collar Crime?
This could include offenses such as fraud, wage theft, bribery, racketeering, insider trading, money laundering, forgery, tax evasion, and a variety of other offenses.
White collar crime is not an official legal definition and can be a very broad term with a huge variety of offenses falling under the definition.
Often due to the nature of the crimes, white collar crimes can only be committed by high ranking individuals within an organization such as a corporation or government entity.
A white collar crime differs from a corporate crime in that white collar crimes seek to benefit an individual or a small group of individuals, rather than an entire corporation or business entity.
In some instances, the definition of a white collar crime relates more to the status of the offender than the actual crime itself. For example, an individual committing tax evasion on their personal taxes may not be considered a white collar crime, whereas a CEO of a company committing tax evasion for personal benefit may be considered a white collar crime.
White Collar Crime Statistics
White collar crime is shockingly prevalent. An estimate from Oxford Research Encyclopedias estimated that as much as 36% of businesses and 25% of households have been victims of white collar crimes.
This makes white collar crimes much more likely than traditional property or violent crimes, which have prevalence rates of 8% and 1.1%, respectively.
In the same study, Oxford noted a source which estimates that white collar crimes cost between $300 and $600 billion dollars each year, a huge blow to the global economy.
White collar crimes affect some of our most important industries. In the United States, it is estimated that fraud committed by white collar criminals accounts for as much as 10% of Medicaid spending each year, or a massive $272 billion dollars.
A body set up by the Federal Trade Commission to track incidents of white collar crime recorded over three million complaints of white collar crimes in the year 2015 alone.
What Are The Common Causes Of
White Collar Crimes?
This could involve embezzling money from a company into a personal account. It might involve insider trading where sensitive information about a company is passed along to certain parties hoping to capitalize on the information by purchasing or selling stocks or other assets at an opportune time.
Since white collar crimes are financial in nature, white collar criminals are almost always seeking a financial gain, whether that is in minimizing losses, stealing money, or otherwise enriching the white collar criminals.
Hire an Experienced Lawyer if you’ve been
Charged with White Collar Crimes?
Without a qualified lawyer on your side, you can potentially be charged for crimes and offenses much worse than what you may have committed. You will be forced to navigate the complexities of the legal system and the intricacies of financial laws without the benefit of the help of a qualified lawyer.
White collar crimes can result in stiff penalties, including huge fines and the potential of jail time.
If you or a loved one are facing charges for white collar crimes, schedule a free consultation with us today. We can begin preparing your legal defense immediately and ensure you do not have to face this alone.
White Collar Crimes FAQ
What is a blue collar crime?
A blue collar crime is defined in contrast to a white collar crime. Where a white collar crime is committed by a high ranking individual in a company or a government institution, a blue collar crime is a similar type of financial crime which is committed by a lower ranking worker. While blue collar and white collar crimes are often the same types of financial offenses, the difference is primarily in the social class of the person committing the crime (white collar vs blue collar.)
How bad is a blue collar crime?
Blue collar crimes can carry punishments similar to white collar crimes. They are often the same charges such as fraud, embezzlement, and tax evasion.
Is white collar crime a victimless crime?
No. There is no such thing as a victimless crime. While no one may be injured in the commission of a white collar crime, the financial losses and other burdens caused by white collar crime must be absorbed by companies, government bodies, and society at large, eventually causing harm at multiple levels.
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