What are White-Collar Crimes?
White-collar crimes are non-violent offenses committed by white-collar professionals. White-collar crimes include fraud, forgery, embezzlement, and bribery. These types of criminals typically use their intelligence to commit these crimes because they have easy access to information and money which makes them more successful than other types of criminals.
Let us then examine some of the crimes that are all in a day’s work for these los angeles criminal defense lawyers, as well as those from all over the country.
Fraud is one of the most commonly committed white-collar crimes. It can be defined as an intentional deception made for personal gain or to damage another individual. Fraud can occur in a variety of forms, such as embezzlement, securities fraud, and healthcare fraud. Individuals who commit fraud can face serious penalties, including imprisonment and fines.
Forgery is a white-collar crime that involves creating or altering documents with the intent to commit fraud. This type of crime can be committed by individuals or businesses and can result in significant financial losses for victims. Penalties for forgery can include jail time and heavy fines.
Embezzlement is a white-collar crime that involves the theft of money or property from an employer. It is often committed by an employee who steals money from the company’s coffers or misappropriates company property for personal use.
Bribery is an act of offering something of value to a public official to induce them to perform an act that they are not legally obligated to do. The bribe can be cash, goods, services, or sexual favors.
Methods for Fraud Detection
Technologies such as CCTV will be used to check if money is, for example, being stolen from a till. However, it becomes more complicated when it is being transferred into hidden and offshore bank accounts. Very often, an auditor of accounts (whether internal or external) will be the first person to suspect this. They will take a sample of transactions and trace them from inception to where the money ends up and see that they relate to a genuine business invoice and transaction.
Another effective method to detect fraud occurring within a business is to have an anonymous tip line. This can be a website or hotline. Tips represent the most common method for detecting initial fraud. It is responsible for identifying around 40% of cases. This is according to the Association of Certified Fraud Examiners (ACFE) and their 2018 Report to the Nations.
A clue to fraudulent activity might be that identity is being stolen. This might include where statements or bills are received for accounts that someone has never opened. Identity theft is a growing crime and it is all with the purpose to obtain funds from another by deception. With the details of another, criminals can set up these bogus accounts and access another’s account and take money from it illegally. This can be a sizeable chunk for a business or the life savings of an individual.
Thoughts on Fraud
Fraud might not be a violent crime but it is an upsetting one that has serious financial consequences for those who fall victim to it. Individuals should look to protect themselves by keeping their details as secure as possible and being aware of likely scams. These can be over the telephone, by email, or through the post.
Businesses can have security in place that goes some way to detecting fraud. Computer systems should have virus and firewall protection and encryption to help with unauthorized access to business accounts. Passwords should always be kept secure and limited to as few people as possible.
All of the above represent acts of dishonesty and are punishable by the laws that protect victims of these crimes. Those who commit the crimes are highly deceptive and intelligent individuals, making detection all the harder when it comes to criminal investigation and gathering evidence. Police officers and lawyers, therefore, need to be highly skilled to identify and prove fraud.
If you have been accused of fraud, it is important that you contact a professional criminal defense lawyer in your area who will be able to help you navigate this process.
If you want to know more about legal services, you can find relevant information at birminghamuk.lawyer.