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
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 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 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.