What is white collar crime definition?
A white collar crime is committed when business professionals or government officials commit fraudulent acts usually for personal financial gain or advantages in business. Most white collar crimes like embezzlement are usually non-violent and characterized by deceit, concealment or violation of trust. These crimes can destroy companies, wipe out people’s life savings, and cost investors billions.
White-collar crimes are rarely considered misdemeanors. If you have been arrested and jailed on misdemeanor charges of any sort, you will require misdemeanor bail to get out of jail.
How serious is white collar crime?
Generally, white collar crimes are very serious. Although non-violent, they generally carry felony charges, and often involve large sums of money stolen from companies or other entities. Penalties can include imprisonment, often in state or federal prisons, fines and restitution, and forfeitures of property. The government can sanction corporations, which could result in the companies involved paying back large sums of money to those victimized by the crimes. These crimes often involve multiple civil cases as well. According to the FBI, white collar crimes cost the U.S. an estimated $300 billion per year.
White collar crime with examples
White collar crime can constitute a large variety of offenses. Some examples of white collar crime include:
- Forgery and counterfeiting: Forgery involves trying to mislead someone by falsifying information or altering information on documents, such as forging signatures on blank checks. Counterfeiting money or consumer goods fall under the category of forgery.
- Bribery: Any gift, including money, given in exchange for personal favors or to influence or change behavior is bribery. Offering a police officer money to throw away a traffic ticket is bribery.
- Embezzlement: When someone intentionally steals funds or other assets from a company, non-profit agency, government entity or other entity for personal use.
- Identity theft: Intentionally presenting yourself as another person for financial gain is identity theft. Stealing credit card numbers to use for personal gain is a form of identity theft.
- Money Laundering: Any attempt to conceal the origins of stolen money is money laundering. Depositing the money in a foreign bank, or investing it in a legitimate business or common ways in which money is laundered.
What is blue collar and white collar crime?
White collar crimes and blue collar crimes aren’t really that different. The term “white-collar crime” was coined in 1939 by sociologist Edwin Sutherland, as a way to differentiate crimes thought to be committed by those in upper socioeconomic classes, as compared to blue collar crimes, or crimes thought to be more often committed by those in a lower socioeconomic class. The class distinctions no longer hold true. Anyone of any socioeconomic class can commit white or blue collar crimes. The white-collar crime distinction tends to refer now to non-violent fraudulent criminal activities.
White collar vs. blue collar crimes
The difference between white collar and blue collar crime is slight. Blue-collar crimes may involve violence or cause damage to property.
Blue collar crime examples:
- Sex crimes
- Property crimes
- Drug crimes
White collar crime examples:
- Money laundering
- Identity theft
- Tax evasion
Is tax evasion a white collar crime?
Tax evasion is considered a white collar crime. Tax evasion or tax fraud is a willful attempt to avoid paying taxes or to pay less in taxes. Usually an individual or even a corporate entity charged with tax fraud or tax evasion has allegedly attempted to intentionally conceal income or revenue from a tax agency like the IRS. Individuals may, for instance, decide not to report cash payments as part of their income. This individual could be charged with tax evasion. A person who makes an unintentional error on his or her taxes is not guilty of tax evasion, and those errors can be corrected, normally by paying the taxing agency to make up the difference owed.
How do you report white collar crime to the FBI?
For the most part, white collar crime is hard to prosecute. That’s because the perpetrators often use very sophisticated means to conceal their crimes. Often agencies rely on people inside an organization, a whistleblower, to report crimes. Whistleblowers are generally protected sources once an investigation begins. A white collar crime can be reported to the FBI directly, and often anonymously, by providing online tips or by contacting local FBI offices. Other agencies such as the Securities and Exchange Commission or the Department of Homeland Security can also be contacted in similar fashion.
If you, or someone you know has been arrested for a white collar crime in Cocoa and Palm Bay, FL, you can obtain bail from Ammediate Bail Bonds. We can be reached 24/7 by calling (321) 631-2663.