Marvin Rodriguez Blog: What are White Collar Crimes?

We often hear about “white collar” crimes, but what exactly does that mean?

For most people, white collar crimes are typically thought of as relating to the financial sector or higher-class jobs. What may be shocking to learn is that these types of crimes could also be committed by someone in a more limited position, such mid-level management, office staff, clerical role, or even as an intern.

In fact, most white collar crimes often go unnoticed. For example, using a company credit card to pay for non-business related expenses, such as a meal or gas, could be considered a white-collar crime.

In almost every instance, a white-collar crime results in some type of monetary or financial gain.

Dallas-based criminal defense firm Broden and Mickelson outline the 7 most common types of white collar crimes:

Fraud
Embezzlement
Bribery
Money Laundering
Insider Trading
Cyber Crime
Forgery

While this list touches on the most common forms of white collar crime, it’s certainly not all-inclusive.

White-Collar Crimes: Facts and Statistical Data

In an article titled, “35 Surprising White Collar Crimes Statistics”, Brandon Gaille points out some shocking statistics about white-collar crime:

Median business losses caused by executives are 16 times those of their employees.

The most costly abuses tend to occur not in large organizations, but in companies with less than 100 employees.

The average company loses more than $9 per day per employee to fraud and abuse.

The average company in the United States loses about 6% of its total annual revenue to white collar crime that is committed by its own employees.

Losses caused by managers are 4x the amount, on average, of those caused by employees.

Men commit nearly 75% of the offenses and cost the company about 4x the amount in white-collar crime costs than women who commit a crime.

The typical perpetrator is a college-educated white male who is working in some form of real estate.

A higher proportion of white-collar offenders are female compared to other offender types.

While this is just a small excerpt of his findings, it’s well worth your time to read the full article here.

What to do if you’re charged with a white-collar crime

What to do if you’re charged with a white collar crime

For most people, being charged with a white collar crime can be gut-wrenching. This is especially the case in more minor forms of theft.

If charged, the first thing nearly any attorney will advise is to seek counsel. This is absolutely imperative, as an experienced attorney can help you better understand your rights.

HG.org, a legal resource guide some very critical information:

A defense attorney will not directly impede the investigative efforts of law enforcement. However, individuals who are represented by counsel are far less likely to unknowingly waive constitutional legal protections, or relent to the demands of investigators when there is no need to do so. And while plea bargaining typically occurs following an arrest, a skilled criminal defense lawyer will act proactively, engaging the prosecuting attorneys early in the process. Read the full resource here –https://www.hg.org/white-collar-crime.html

Simply stated, a criminal defense attorney may be able to help you better understand what information you should (and more importantly, should not) divulge.

Conclusion

By clearly understanding the definition of white collar crime is one of the first steps in identifying the problem. Being aware of the issue can help prevent and deter behaviors that could result in more serious charges.