Things You Should Know About White Collar Crime
You’re probably aware of the fact that criminals do come in all shapes and sizes, and they even come from different class spectrum. Even desk workers wearing a suit can very well be doing some crime. Although they may not be involved in violent crimes, but still, a crime is a crime. If this happens, it will only cause some serious effects to both the economy and your business. This article talks about the kind of crime which is known as the white collar crime, involving finance capabilities and abuse of business.
You could be in a defensive mode right now saying that your business is safe from this because you think that your employees are angels.
Well, you can’t really be too sure, can you?
It is essential that you spend some time getting to know more on this aspect of law that is often overlooked. Getting yourself informed regarding these things is the best way for you to make sure that your business doesn’t get into trouble with the law.
Below are the types of crimes that are involved.
What do you think small businesses’ most common crime is? In case you don’t know yet, it’s actually tax evasion because of fraudulent bookkeeping. There are also some other forms of tax evasions that may result from legal loopholes making it, technically, legal. There’s also this asset retention made for the purpose of criminal conversion, making it the reason for embezzlement lawyers to be busy. There are even payroll frauds wherein an employee is listed incorrectly just the company won’t be able to pay them what is owed. This type of crime is committed by businesses if they’re not really that strict with their employee records.
Here’s what you should do when investigated or accused
White collar crimes will definitely be treated like any other crimes even if they are nonviolent crimes. In case you’re not aware, there are people serving a life sentence for white collar crimes. Although there aren’t really that many people getting jailed because of this, they’re still guaranteed to pay hefty fines on top of many other business penalties. You have to remember that agencies responsible in investigating crimes like these are not pushovers so be sure that you cooperate fully and that you gather all evidence you could possibly get to help clear you. You should also hire a good lawyer to represent you.
Make sure you monitor your employees
If you’re one of the employers of a financial business, it is very important that you do a background check on all of the employees first. One thing that you have to make sure is to hire a trustworthy accountant who can actually keep an eye for any suspicious data as well as any discrepancies.