White-collar crimes - the term has been casually thrown around for ages in courtrooms, novels, and TV shows, but the meaning is not that simple. White-collar crimes commonly mean crimes that occur in business or corporate settings. However, there are many rules and conditions attached to them, making each case complex to understand.
"If you face allegations of a violent crime, drug charge, sex crime, white-collar, fraud and theft crime, or DUI/DWI, there is no substitute for having an experienced criminal defense attorney standing by to represent your interests," says Scott C. Thomas, white-collar crimes defense attorney at Law Office of Scott C. Thomas. If you have been exposed to these crimes and need legal support, you have to hire a defense attorney for the battle. Below are six common white-collar crimes that need a defense attorney.
Corporate Fraud
This might be the most common type of fraud that occurs in a corporate setting. Corporate fraud refers to tampering with the financial information of a company to make it look favorable. This type of fraud is done by the business organization and is done so that they can benefit from it. One example of this is to alter the financial statement of the company to show that it's earning more revenue and profit. Another example is hiding the flaws and defects of a product in the manufacture or service of a company to protect the company's image in the market. Before you hire an attorney for corporate fraud cases, it is important to take a few things into account. One of them is experience and quality of the attorney you are hiring.
Money Laundering
Money can be earned through various sources. When someone obtains money through malicious means and tries to hide it from the government, it becomes a white-collar crime. This is known as money laundering. The process is completely illegal because the ways of obtaining the money are often highly criminal, such as selling drugs and funding terrorists. The owner of the money attempts to make the black money look 'white', which is why it's called laundering.
In recent days, money laundering has become deadlier because of easier access to cryptocurrency and online banking systems.
Tax Evasion
This is another common form of white-collar crime and is committed by both companies and individuals. In this crime, a company or a person evades a tax obligation. However, the concept is much more complex than a business or an individual failing to pay taxes in due time. Tax evasion includes altering financial information to evade tax or to transfer assets illegally for the same purpose.
Embezzlement
In embezzlement, an individual - usually a trusted employee - of an organization takes money or other assets from the business without anyone finding it out. The perpetrator may begin by removing small amounts of money from the assignment, and then later embezzling a large amount. In most cases, embezzlement goes on for years before someone catches the criminal. However small the amount is, embezzlement is considered a felony and is charged.
Bribery
Bribery is another common form of white-collar crime. In bribery, a person is given a valuable token in exchange for a favor or a deed that he otherwise wouldn't do. The token can be an expensive gift, money, or an asset. It is done discreetly and is usually considered an 'under the table' act. This act creates an unfair advantage for the person giving the bribe and it hampers natural competition. This also creates an unfair and unjust system that can turn into a culture of a particular organization.
Healthcare Fraud
Healthcare fraud is committed by healthcare professionals, patients, or other parties involved. In this white-collar crime, the participants deceive the healthcare system by paying for favors. For example, the medical care providers can tamper with the billing, or sell more expensive services to the patients when other affordable alternatives are available. The patients or individuals can also commit this crime by falsifying information about a healthcare organization or impersonating a professional from the said organization. Creating fake prescriptions and medical certificates also fall under this type of white-collar crime.
White-collar crimes are taking place around us every day. While some of them are much easier to get rid of, a majority of them can cause lifelong damage if not handled in due time. If you have been accused of a white-collar crime or your organization is facing charges, you can easily hire a good white-collar defense attorney to handle the case on your behalf. Just research well before approaching an attorney and make sure they understand and aim for the same vision.
