A white-collar employee is in a respectable position and has a reputation to protect. You may think they cannot commit a crime. But you do not have to have a white-collar job to commit a white-collar crime. White-collar criminals commit crimes to avoid losing money, obtain money, or secure a deal for their advantage. White-collar crimes are non-violent with devastating effects.
What Are the Federal White Collar Crimes You Should Know?
You may not detect that there is a white-collar crime in an organization because the white-collar criminals use their knowledge and the present opportunity for their financial gain. Their actions are disguised in the conventional ways of doing business.
Most white-collar crimes come into light because a whistleblower announces unusual activities with negative financial implications. Without the knowledge of federal crimes, you may not identify white-collar crimes in your organization. Here are the federal white-collar crimes your federal criminal defense attorney wants you to know about:
1. Fraud
Fraud is arguably the top white-collar crime in the FBI’s criminal list. It involves accounting schemes that paint the wrong picture of the financial health of a corporate or business. When an executive unlawfully discloses confidential financial information and another entity acts in response to the information, they commit corporate fraud.
Corporate fraud criminals manipulate financial data to give a false financial reputation to the entity. To determine fraud, your lawyer must prove the intention to defraud through manipulation and cheating.
2. Bribery
While you thought you were clever to give a bribe, you were committing a crime. Bribery is offering compensation to influence the actions of another person. Public officials are the biggest bribery criminals, especially where citizens give them money to receive their services.
Corruption often describes acts of bribery by highlighting that giving the money was intending to influence something unlawfully. When you give the money to influence a transaction or service, you are guilty of bribery.
3. Money Laundering
Money laundering is an organized crime that involves using money from illegal activities to conduct legitimate business. Money laundering criminals make it look normal using several bank transactions with legal businesses, real estate, and other trade services.
Money laundering intends to make your money look like it was from a legitimate source. Money laundering is an organized crime such that federal agencies may not discover the source of the money.
4.Identity Theft
To think that any person can steal your identity is shocking. White-collar criminals use another person’s identity for their economic gain. Identity theft laws prohibit the use of personal identifying information for financial or personal gain. An identity theft criminal risks jail term if found guilty.
5. Embezzlement
Embezzlement is the theft of money, assets, or property by a “responsible” party. An embezzler converts money or assets intended for another business purpose for personal use. When you are convicted for embezzlement, you face imprisonment of up to ten years, depending on the property’s value in question.
Employees accused of embezzlement use the money for a different purpose. They may create bills for non-existent activities and use the money for their expenses.
Avoid White Collar Crimes
White-collar crimes involve you using your knowledge and work experience for your financial gain. Most white-collar criminals are in a position of trust by their employers and use it to their advantage. When you know the different white-collar crimes in the justice system, you can quickly identify and react appropriately.