Getting Familiar with White Collar Crimes
The Federal Bureau of Investigation has defined white collar crimes as “those illegal acts which are characterized by deceit, concealment or violation of trust and which are not dependent upon the application or threat of physical force or violence.” Commonly known as corporate crimes, white collar crimes are highly technical. It usually involves people who belong in the upper class of society in the upper level jobs such as management, business and corporations. Unlike blue collar crimes, this kind of crime is non-violent in nature.
Types of White Collar Crimes
Corporate crimes consist of forgery, embezzlement, extortion, identity theft, securities fraud, conspiracy, tax evasion, bankruptcy, money laundering and computer crime among others. Generally, this kind of crime uses technology to forge information where one person gains some benefits at the expense of the other.
A white collar crime can be under the federal or judiciary system. Both have the mandate to address these kinds of crimes. Like all other crimes, a person who commits any kind of corporate crime is subjected with the highest possible sentence. Common punishments include fines, imprisonment and probationary period.
Factors Affecting Level of Punishment
There are also factors which affect the impact of what type the punishment is for the crime. Some corporate crimes involve an individual committing the crime while there are several corporate crimes which involve a part of the organization or corporation. In this regard, punishments are usually higher on crimes which involve an organization or corporation as compared to crimes committed by an individual. Another factor of punishment is dependent on the damage inflicted to the victims.
Given the societal and economic impact of these crimes, more and more corporate crimes are facing strict criminal penalties. Fines may even involve millions of dollars with at least 30 years of imprisonment. Hence, in the event of white collar crimes, it is important that you know your rights as you can be charged wrongly.