pages bg right
 Currently Browsing: Criminal Law

Types of White Collar Crime

White collar crime is defined as nonviolent crime that is financially motivated. Most white collar crime is committed in a business or government setting. The punishment for white collar crime usually depends on the specific crime and its severity. However, the website of the Law Offices of Richard A. Portale, P.C., says that it is not uncommon for those convicted to go to prison. Here are a few examples of what white collar crime entails. Identity theft occurs when someone steals personal information from someone – usually their social security number – to impersonate them. Although a lot of times identity theft is typically associated with taking money from the victim’s account, identity thieves can also use stolen information to obtain their credentials or contribute to their criminal record by providing their information to the police. True name identity theft is when the thief opens up a new account with the information they stole, whereas account takeover identity theft occurs when the thief gains access to existing accounts with the information they have stolen. Simply put, embezzlement is when someone steals money they have been trusted with. This typically is committed in the corporate world by powerful figures in a company. There are a few ways to go about embezzling. The first and least risky way a lot of people embezzle is by taking small amounts of money over a long period of time. This is sometimes referred to as “skimming off the top.” Another way people go about embezzling is by taking a large amount of money at one time and then underreporting the company’s income. A way companies try to prevent embezzling is by dividing up responsibilities amongst multiple people. When multiple people are fully aware of the financial situation of the company, they would all have to approve of or take part in the embezzlement, which...
Read More of Types of White Collar Crime