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Overview of White Collar Crimes

The Federal Bureau of Investigation (FBI) defines white collar crime as “lying, cheating, and stealing.” That’s white collar crime in a nutshell, says the FBI.

Coined in 1939, the term is now associated with a wide variety of frauds that are commonly committed by business and government professionals, many of whom wear a suit and tie to work every day.

What many people don’t realize is that if they commit a white collar crime, there’s a good chance that they’ll end up on the FBI’s radar. That’s because the FBI frequently partners with local law enforcement agencies, banking institutions, and other government regulators to track down and capture people who are involved in fraudulent schemes.

White collar crimes are not violent, but that does not mean they are victimless. Scams affect companies, people’s life savings, they affect investors, families, and they cost American taxpayers by defrauding government welfare and healthcare programs.

The FBI estimates that white collar crime costs the United States more than $300 billion each year.

Common white collar crimes, include:

White collar crimes are criminalized under state and federal law; this means a defendant can be prosecuted on the state or federal level depending on the facts of the case.

The penalties for white collar crimes may include: fines, restitution, incarceration, asset forfeiture, home detention, community confinement, having to pay for prosecution, etc.

Several federal agencies are involved in the investigation and enforcement of white collar crime laws, such as the FBI, the Internal Revenue Service, and the Securities and Exchange Commission among others. Additionally, many states have their own task forces that enforce state-level white collar crime legislation.

Are you being accused of a white collar crime?

If you are being accused of committing a white collar crime, there is a LOT at stake. You may not only be facing felony charges, but you could be on the fast track to a federal prosecution. To protect your rights, contact a Plano federal criminal defense lawyer from The Zendeh Del Law Firm, PLLC at once!