Three Common Examples of White Collar Crime

When you hear the word crime, most people think of violent attacks, burglaries or drug-related incidents, however, one white-collar crime often gets forgotten about. The motivation for these crimes is to obtain or avoid losing money, property, or services, or to secure a personal or business advantage. While they are not usually violent, this doesn’t make them any less serious.

Here are four common examples of white-collar crime.

Corporate Fraud

A large majority of white-collar cases involve corporate fraud. This involves falsification of financial information to deceive investors, auditors or analysts of the real picture. These schemes are designed to conceal fraudulent activities about the true financial condition of a corporation or business entity, therefore making the financial performance of the business appear better than it actually is.

Money laundering

There are many different types of money laundering, for example, using a legitimate business as a way of covering up illegitimate cash flow accumulated through crime. The crime includes three main steps. The placement which is the initial entry of criminal money into the system, layering which creates a complex trail so the money is hard to trace and integration which is when the criminal’s proceeds are returned to the criminal from what appear to be legitimate sources. The overall idea is to make criminal money look ‘clean’.

Embezzlement

When a trusted person has the responsibility of assets and uses their position to misappropriate funds, this is known as embezzlement. For example, an employee may find ways to funnel company money into their own bank account or take ownership of property without permission.

At Lefevre Ligitation , we have a dedicated team who specialise in white-collar theft cases. Based in Aberdeen, if you find yourself needing representation for a similar crime, we’re here to help. With significant experience of Sheriff Court Cases, we’ll work alongside you to achieve the best outcome for your situation. Get in touch with us today for more information.