Common White Collar Crimes and How to Spot Them in Your Company

White collar crime is a term that has come to represent a certain type of criminal activity that does not involve violence, but which involve the theft of money or property. White collar crimes happen in businesses around the United States every day – in fact, according to the FBI, the average U.S. company loses approximately 6 percent of its total annual income to crimes perpetrated by their own employees, with managers committing four times the number of crimes as employees and most crimes taking place in organizations that have fewer than 100 employees. Is white collar crime taking place in your organization? The best way to spot whether your company has been victimized is to familiarize yourself with the various types of white collar crimes and to discuss what you witness with an experienced attorney. The lawyers at the Philadelphia law firm of Bochetto & Lentz have extensive experience in defending those who have been accused of white collar crime and in representing those who have reported these crimes.

Every company is put into the position of trusting their employees with assets and the proper handling of their business. Unfortunately, there are some who take advantage of this trust to enrich themselves, and in doing so they can cheat their employer, their employer’s clients, and others of significant amounts of money. White collar crimes cover a wide range of offenses, including:

  • Extortion
  • Receiving stolen property
  • Credit card fraud
  • Forgery
  • Health care faud
  • Embezzlement
  • Identity theft
  • Workers’ compensation fraud
  • Bribery
  • Insurance fraud
  • Mail fraud
  • Income tax fraud
  • Insider trading
  • Financial crimes

White collar crime is often a result of an employee having been provided with the responsibility for overseeing the way that money or property is managed within an organization, and realizing that there is insufficient oversight of their activities to detect wrongdoing. In many cases an employee who is committing a white collar crime will believe that there is no victim to their crime, but that is not correct: the money that is stolen from their employer or their employer’s clients can make a real difference, and from a legal perspective the theft can be charged as a misdemeanor, or even a felony if significant amounts have been stolen.

In order to protect your company against white collar crime, it is important that you remain vigilant. Even people who you feel have been loyal and who you believe to be trustworthy are capable of committing crimes, especially if protective steps have not been taken. At Bochetto & Lentz, it has been our experience that companies that conduct thorough background checks of employees before hiring them have a better chance of avoiding being the victim of white collar crime, and that you set up a system of checks and balances that let employees know that they are constantly being monitored. White collar crime is most common when employees feel that the opportunity exists, so review your bank accounts regularly and audit your books at least once a year. If you believe that you have been victimized, contact the attorneys at Bochetto & Lentz for legal guidance and assistance.

Learn more about White Collar Crime and how we can help HERE.

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