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The Worst Forms of White Collar Crimes, According to the FBI

Posted By Albaugh Law Firm || 7-Mar-2018

The term white collar crime was first coined in 1939, but has since become synonymous with a wide range of deceptive and fraudulent practices committed by business and government professionals. White collar crimes involve deceit, concealment, or violation of trust. These crimes are usually motivated by financial incentives such as gaining more wealth, property, or a personal or business advantage.

Although these crimes do not rely on the application or threat of physical force or violence, they are not victimless crimes. Scams carried out by businesses or government professionals can devastate a family’s financial security and can cost investors billions of dollars. In this blog, we talk about white collar crimes that the FBI focuses on.

Corporate Fraud

Corporate fraud is one of the FBI’s highest criminal priorities. Corporate fraud can cause significant financial losses for investors and has the potential to cause immeasurable damage to the U.S. economy and the confidence of investors. The FBI focuses much of its efforts and attention on cases involving accounting schemes, self-dealing by corporate executives, and obstruction of justice.

Accounting schemes intended to deceive investors, auditors, and analysts about the actual financial condition of a corporation or business make up the majority of the cases that are pursued by the FBI. The Bureau works closely with the SEC, CFTC, Financial Industry Regulatory Authority, Internal Revenue Service, Department of Labor, Federal Energy Regulatory Commission, and the U.S. Postal Inspection Service to investigate and prosecute corporate fraud.

Money Laundering

Money laundering is used by criminals to conceal or disguise illegal funds in order to make them appear as though they came from legitimate transactions. This practice allows criminals to accumulate wealth, avoid prosecution, evade taxes, increase their profits through reinvestment, and fund further criminal activity. Money laundering undermines the integrity and stability of financial institutions by distorting the flow of capital.

Securities & Commodities Fraud

As globalization continues to flourish, it has created new opportunities for investors to diversify their portfolios. However, the new global market has created more opportunities for instances of fraud and misconduct as well.

The following are the most prevalent types of securities and commodities fraud:

  • Investment Fraud
  • Ponzi Schemes
  • Pyramid Schemes
  • Prime Bank Investment Fraud
  • Advance Fee Fraud
  • Promissory Note Fraud
  • Commodities Fraud
  • Broker Embezzlement
  • Market Manipulation

Are you facing criminal charges for a white collar crime? At the Albaugh Law Firm, our team of lawyers understand the stress that comes with being accused of a crime, which is why we are here to help you build a strong defense strategy. Contact our St. Augustine white collar crimes attorneys to request your consultation today.