White-collar crimes are becoming more common as the business world grows, but some people do not realize certain things are serious crimes. The 10 most common white-collar crimes are listed below so that you can look out for any of these problems where you work. Plus, you should consult with an attorney if you think you may be accused of malfeasance.
1. Falsifying Documents
A criminal defense attorney should review documents you complete for business purposes. If they are in any way incorrect, you could be accused. Plus, many businesses falsify documents to get a competitive advantage.
Embezzlement is the removal of funds from a company account without the knowledge of the business. This means the money was taken from the account and often covered with false accounting documents, accounts, or businesses that receive the money.
3. Insider Trading
Insider trading involves using non-public information to sell or buy shares of a company based on a steep rise or fall of that company. If the government finds that you use private information to make money from trading, you could be charged.
4. Tax Evasion
Tax evasion is when any business or person purposely avoids taxes by not reporting income.
5. Healthcare Fraud
Healthcare fraud includes any insurance fraud or healthcare services fraud. You might have defrauded an insurance company by making them pay for treatment that was not needed. Plus, insurance fraud might include falsifying prescriptions or medical documents to file more claims with the insurance company.
Racketeering is, effectively, the act of running an illegal business. RICO or racketeering charges are reserved for people who run drug business, prostitution rings, and other illegal businesses.
7. Writing Bad Checks
Writing bad checks means that you wrote the check for more than the funds you had in the account. Also, bad checks might be written for accounts that do not exist. Additionally, check fraud includes stealing checks and writing them on an account that is not yours.
8. Money Laundering
Money laundering is the act of funneling money to a legal business even though that money was made illegally. People who falsify documents to show that a front business made all that money are also guilty of money laundering.
9. Computer Fraud
Computer fraud includes the use of a computer to commit many of the acts listed above. This is an additional charge that could be added to other charges, or this charge could be used when people use computers and emails to phish for personal information. Computer fraud often occurs along with identity theft.
10. Ponzi Schemes
Ponzi schemes are investment funds that do not actually invest their money. The person who is running the Ponzi scheme collects all the money, uses it to fund their lifestyle, and reports major returns to their clients. They can close out an account here and there when they need to, but most investors are so taken with the money they are supposedly making that they leave their money with the con artist. In the end, everyone loses their money when the scheme is discovered.
These white-collar crimes are often part of major criminal conspiracies, but there are times when people are charged with these crimes even though they feel they did nothing wrong. Consult with an attorney to learn what can be done to mitigate these charges.