You’re probably aware of the fact that criminals do come in all shapes and sizes, and they even come from different class spectrum. People with suits on and are working behind desks could be very well engaged in various crimes. They may not be doing violent crimes, but it’s crime nonetheless. And this definitely has some serious effects on both the business and economy sectors. This article talks about the kind of crime which is known as the white collar crime, involving finance capabilities and abuse of business.
You might be thinking right now that this has nothing to do with you because your employees all seem to look like angels.
Well, it would be best if you can really be sure about that.
It is very important that you know more on the oft-overlooked aspect of the law. Getting to know more about such things will definitely reduce the risk of allowing your business 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. However, there are some forms of tax evasions that may be classified technically as legal because of some legal loopholes. There’s also this asset retention made for the purpose of criminal conversion, making it the reason for embezzlement lawyers to be busy. There is also what is known as payroll fraud, wherein a business incorrectly lists an employee just so they can avoid paying them what they actually deserve. 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 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. But most importantly, you have to get a good lawyer.
Make sure you monitor 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. You might also want to only hire trustworthy accountant who can actually keep an eye out for suspicious data or any discrepancies.