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. A person in suit working behind a desk can very well be engaged in crimes. They may not be doing violent crimes, but it’s crime nonetheless. If this happens, it will only cause some serious effects to both the economy and your business. The kind of crime this article is talking about is known as the white collar crime, which involves finance capabilities and abuse of business.
You might be defending your business saying that your employees are all angels.
Still, it would be for the good of your business to make sure that what you believe is indeed true.
It is very important that you know more on the oft-overlooked aspect of the law. 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 is the most common crime that small businesses are involved in? It’s actually fraudulent bookkeeping that leads to tax evasion. 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. Businesses tend to commit this crime especially if they’re just not that competent with their employee records.
What to do when investigated or accused
What you should know about white collar crimes is that even if they’re nonviolent crimes, they’re still going to be treated just like any other crimes. As a matter of fact, there are quite a lot of people serving life sentences just because they’re charged with these sorts of crimes. Although jail is not really that common, you should understand that hefty fines and many other business penalties will be guaranteed. Agencies investigating such crimes are surely not pushovers which is why you have to make sure that you cooperate fully and that you be able to gather every evidence you got just so they can clear you. You should also hire a good lawyer to represent you.
Monitoring your employees
If you’re the employer of a an insurance or any financial business, you have to make sure you’ve actually done background checks on your employees. One thing you would want to do is to hire trustworthy accountants who is capable of keeping an eye out for discrepancies as well as any suspicious data.