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Different types of white collar crimes

by | Jul 26, 2018 | Firm News

When facing criminal charges, one of the most important first steps you can take is to understand the allegations brought against you. You may have found yourself accused of a crime that falls into a larger category, but understanding the specific charge could make a difference in how you approach your defense.

For instance, authorities may have accused you of a white collar crime. However, this umbrella term can encompass several types of criminal activity. Therefore, it would likely be in your best interests to understand the different types of charges.

White collar crime

When it comes to white collar crime, the term may refer to a number of actions, but in general, each act involves working toward financial gain by using deceitful measures. Because of this commonality, someone may confuse a charge of fraud for one of embezzlement, and this misunderstanding could cause problems.

Different types of white collar crimes

Fraud and embezzlement are two crimes that fall into this category, but they involve different actions. Specific types of white collar crime include:

  • Securities fraud: This action could involve someone having inside information that could help them have an advantage when it comes to trading stocks.
  • Mortgage fraud: This type of fraud involves lying on mortgage applications in hopes of obtaining a better loan.
  • Insurance fraud: This crime typically has someone making false claims in attempts to receive an insurance payout.
  • Tax evasion: Avoiding taxes, providing false information or illegally moving property to avoid taxes could result in a charge for this white collar crime.
  • Embezzlement: A common example of embezzlement involves someone taking company money and putting it into a personal account by falsifying documents or taking other actions.
  • Money laundering: This crime involves moving illegally obtained money through various channels in attempts to make the money appear legitimate.

This list does not include every type of fraud or other white collar crime, but you can gain information on more specific charges and crimes through local legal resources.

Creating a defense

Once you understand the specific charge brought against you, you may feel better able to determine how to defend against it. Because white collar crimes can come with serious penalties if a conviction takes place, you may want to work with a legal professional to understand your options for creating and presenting a meaningful defense.