Home » Legal » 8 Types of White Collar Crimes

8 Types of White Collar Crimes

White collar crime refers to offenses that are committed with the intention of producing financial gain. Therefore, they usually involve the use of some form of deception. The crime is termed ‘white-collar’ as it is usually committed by people who are in the business world.

Basis of Punishment for White Collar Crimes

The minimum punishment for white collar crimes when the case proceeds by indictment is two years imprisonment if the total value of the offense exceeds one million dollars.

White-Collar-Crime.jpg (500×300)

Sentencing for white collar crimes is dependent on:

  • The magnitude of the outcome of the offense on the victims. The significance of the offense is determined by the personal circumstances of the victims including their financial situation, health and age.
  • The complexity of the offense
  • The duration and degree of planning that went into the execution of the crime.

In order to ensure that the outcome of your case is in your best interests, your criminal defense lawyer Brampton ought to understand the possible impact that a conviction could have on you. They need to know how they can stand up for your rights and interests.

According to www.mitchengellaw.ca, following acts are termed as white collar crimes:

Identity Theft:

Identity theftis a crime in which an imposter obtains key pieces of personal information, such as Social Security or driver’s license numbers, in order to impersonate someone else.

Fraud:

Wrongful or criminal deception intended to result in financial or personal gain.a person or thing intended to deceive others, typically by unjustifiably claiming or being credited with accomplishments or qualities.

Telemarketing fraud:

At its core,telemarketing fraudis a pretty simple crime: someone calls the victim, makes a false statement, and the misrepresentation causes the victim to give money to the caller. This definition can cover a large variety of scams.

Forgery:

Also known as “uttering a false instrument”, Forgery is a serious offense, punishable as a felony in all fifty states and by the federal government. Forgery involves the making, altering, use, or possession of a false writing in order to commit a fraud.

Embezzlement of funds:

Fraudulent taking of personal property by someone to whom it was entrusted. Most often associated with the misappropriation of money.Embezzlement can occur regardless of whether the defendant keeps the personal property or transfers it to a third party.

Internet Scams:

A very common form ofInternetfraud is the distribution of rogue security software.Internet services can be used to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme.

Intellectual property infringement:

An intellectual property infringement is the infringement or violation of an intellectual property right. There are several types of intellectual property rights, such as copyrights, patents, and trademarks.

Tax evasion:

It is defined as “the illegal nonpayment or underpayment of tax.” Tax evasionis an illegal practice where a person, organization or corporation intentionally avoids paying his/her/its true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties

If you have been charged with any of these crimes, better hire Brampton criminal defense lawyer to protect your rights.

, , , , , , , ,