Bird & Van Dyke, Inc. - A Professional Law Corporation

Local Attorneys, Local Representation

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Phones answered 24/7

Stockton 209-390-8877

PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us in person, via telephone or through video conferencing. Please call our office to discuss your options.

Bird & Van Dyke, Inc. - A Professional Law Corporation
STOCKTON
Contact us for a
Free Initial Consultation
Phones answered 24/7

PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us in person, via telephone or through video conferencing. Please call our office to discuss your options.

We help clients throughout Northern California overcome their legal challenges and move forward with their lives.

Our inside knowledge gives clients the edge they need to defend themselves against criminal charges.

At Bird & Van Dyke, we help clients put the pieces back together after being injured in an accident.

Contact us at 209-390-8877  to schedule a free consultation.

LOCAL ATTORNEYS, LOCAL REPRESENTATION

LOCAL ATTORNEYS, LOCAL REPRESENTATION

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Embezzlement vs. laundering: What is the difference?

On Behalf of | Jan 21, 2022 | blog, Embezzlement |

White collar crime is a term used to describe a wide range of deceitful activities performed by businesses, employees and other professionals. According to FBI.gov, people who commit these crimes often violate others’ trust and use concealment after obtaining property or assets for their benefit.

Embezzlement and money laundering are often confused with one another, as they are both crimes involving financial fraud. Yet, there are key differences that can help distinguish these two different crimes.

Embezzlement

Also referred to as a misappropriation of funds, embezzlement involves purposefully misusing, retaining or stealing funds given to employers by an employer or other entity. Although the organization gave the money willingly, people may use it for a purpose that was not intended. For example, an employee may take small amounts of money from an employer’s fund over time in hopes that no one will catch the missing funds, or they may use company money for their own personal benefit.

Money laundering

During money laundering, people obtain funds illegally through criminal acts or misleading schemes. In an attempt to mask the money’s illegal origins, criminals make it look like the funds are coming from different sources. They may also change the money’s form or filter it through other accounts. Money may be obtained through organized crime activities, such as:

  • Smuggling
  • Illegal gun sales
  • Drug trafficking
  • Complex financial crimes
  • Health care fraud

Once the money is obtained, it may filter through international trade, real estate, virtual currency, financial institutions or fake businesses.

It is important to know the differences between embezzlement and money laundering, as the consequences and defense are much different as well.

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