There are many crimes that can fall under the term “white-collar”, but they all involve some form of unethical act for financial gain. Generally, the people perpetrating these crimes will hold some sort of professional white collar job that offers them access to confidential information.
Embezzlement is perhaps one of the most straightforward types of white collar crimes in which the perpetrator finds an unscrupulous way to simply steal money from the company and divert those funds into a personal account. In other situations, it may refer to a misuse of funds, such as a sales rep who takes client money that was allocated toward a specific purpose and then pockets it.
Many of the crimes that fall under securities fraud are forms of insider trading or other types of company stock manipulation. In some of these types of cases, the person with the insider information takes some form of action for financial gain before that information is made public. In others, misinformation is given about the value of the company to falsely increase or decrease its value.
In other forms of white collar crime, the victim is an insurance company where fraudulent claims are made by doctors, medical centers, labs, or individuals for services they did not perform. The government is one of the most common victims of fraud when executives of a company or corporation manipulate financial records in order to avoid paying their fair share of taxes.
There are many other types of white-collar crimes, such as money laundering and Ponzi schemes. In some cases, companies may be accused of crimes caused by their employees that company executives were unaware of. When this happened in Texas, a criminal defense attorney in Plano was hired to help the company limit its liabilities. Preventive measures and alerts should be in place at every company to catch and prosecute insider opportunists before losses can occur.