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What exactly is a white collar crime?

On Behalf of | Jun 10, 2021 | White-Collar Crimes

In the 1930s, people began to use a new term to refer to certain types of illegal activities. White collar crimes include fraudulent actions that business owners or other professionals commit. If Florida police arrest you on suspicion of non-violent, financially motivated criminal activity, the charges against you may be categorized as a white collar crime.

While such crimes typically do not include violence or even a threat of physical harm, penalties under conviction of a white collar crime can be severe. Just as with any other type of criminal charges, if you’re arrested for an alleged white collar crime, you’re guaranteed an opportunity to refute the charges against you in court.

Most common types of white-collar crime

The following list includes various types of criminal activity that are often listed as white-collar crimes:

  • Money laundering
  • Embezzlement
  • Bank fraud
  • Public corruption
  • Securities fraud
  • Marketing fraud

The Federal Bureau of Investigation (FBI) is often the lead agency that conducts white-collar crime investigations, sometimes working in conjunction with other regulatory or law enforcement agencies.

Have you been accused of deceiving investors or other fraudulent activity?

It’s possible that clerical errors and other issues might spark suspicion. If investors claim to have been deceived or auditors or analysts say that the true financial status of a corporation has been hidden, the FBI may be called in to investigate the situation.

White collar crime accusations often include issues such as falsifying financial documents, insider trading, under-reporting net asset values and tax evasion. If you become aware that you’ve been named in a federal white collar crime investigation, it’s important to try to remain calm and cooperate as best you can. There may be several options available to help mitigate your circumstances.

Know your rights and how to protect them

Merely being charged with a white collar crime in Florida or elsewhere can have a devastating effect on your professional and personal reputation. Even if your case winds up being dismissed, the fact that you were arrested and charged with a crime can have lingering, negative effects on your career and private life.

This is why it’s so important to learn as much as you can ahead of time regarding your rights and how to protect them if a legal problem arises. For instance, many people don’t realize that they’re not obligated to answer questions under police interrogation without the presence of legal representation. In fact, you can request legal support as soon as you learn that you are a subject of a white collar crime investigation.