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What are Some Examples of White-Collar Crime?

Attorney Appearing in Court

White-collar crimes are becoming increasingly prevalent in modern society because they are extremely lucrative for the criminal. Some of these criminals are able to make off with billions of dollars in funds to help them live out their days in comfort. Unless they get caught and are brought to justice, this fraud goes largely unnoticed except by those whom it hurt. Many agencies are involved in helping to bring the details of white-collar crime to light including the FBI, the IRS, and the SEC.

Most people know that this type of crime exists, but they aren’t sure what it really entails. Let’s start by taking a closer look at what white-collar crime is.

What is white-collar crime?

According to the Federal Bureau of Investigations, this term was first coined in 1939 to represent the fraudulent crimes committed by business professionals and government employees. The hallmark of a white-collar crime is that it doesn’t involve any sort of physical force or violence toward the victim. Instead, these criminals use concealment, trust violation, and deceit in order to gain a hefty sum of money. Some of these crimes are committed against just one person while others can be international affairs that are difficult to unravel.

What is considered a white-collar crime?

While there are a lot of different types of white-collar crime, most people tend to focus in on the major ones. For example, you have probably heard of corporate fraud before. This is when someone in a business uses some sort of plan to confuse investors, short the accounting books, or otherwise make the numbers work out for their own gain. This is a sneaky way of scamming customers and investors. Here are a few of the ways that corporate fraud can present itself:

False accounting

Insider trading

Kickbacks

Using business property for personal gain

Late hedge fund trading

Money laundering is another major issue when it comes to white-collar crime. This means that the criminal is trying to hide their sources of income to make them appear more legitimate than they really are. They can easily accumulate wealth without paying taxes on it or continue to reinvest those funds into more of the same activities. A few examples of money laundering include human trafficking, drug trafficking, terrorism, and health care fraud.

Securities and commodities fraud is the last type of major white-collar crime that most people are familiar with. This type of fraud leads people to invest in fake companies or accounts for their own personal gain. It can include Ponzi schemes, pyramid schemes, investment fraud, and broker embezzlement among others.

White-collar crime is serious and can leave a major impact on the victim of this crime. If you are facing charges, you’re going to need a competent and experienced attorney on your side. At Attorneys on Demand, we can help you find local counsel that will give you the help you need to defend your own rights in court. Be sure to contact us today with your need!