The many iterations of white collar crime
White collar crime has seen a massive surge in the last decade as the internet has made it easier for people to transmit data, commit fraud and complete financial transactions. As such, the police, investigators and federal prosecutors are keeping a close eye on acts that fall under the white collar crime umbrella.
So what are some of these crimes? Consider the following:
- Fraud. This is one of the most common forms of white collar crime. Deceiving someone so that they give you money or you take their money is fraud. There is also "securities fraud" which is often referred to as insider trading.
- Embezzlement. This is when someone flaunts their fiduciary duty and takes money from a company or fund that they are supposed to protect. One way to contextualize embezzlement is a high level executive with the ability to access company accounts, then using that access to move money from the company to his or her own personal account.
- Tax evasion. This usually entails providing false information to the IRS or blatantly skirting the law when it comes to filing your taxes.
These are just three examples of white collar crime. They can happen at the state or federal level, and they carry massive consequences. Anyone who has been accused of a white collar crime needs to consult with an attorney as soon as possible to make sure that their rights are being upheld and to ensure that their defense has the best chance possible in the case.
Source: FindLaw, "White Collar Crime," Accessed Dec. 15, 2016