White collar crimes are synonymous with acts of fraud committed against businesses and government agencies. These crimes involve deceit, concealment, as well as a violation of trust. Least to say, these are financially motivated crimes not involving physical injury or violence.
Depending on the scam, white collar crimes may affect a singular entity or multiple parties. One scam can destroy a business or a family by clearing out their savings or investments. And with today’s available technology, white collar crimes are getting more and more sophisticated.
Corporate fraud is one of the FBI’s top priorities. This is due to possible effects of the scam causing a ripple effect that can potentially damage the U.S. economy and lower investor confidence.
Some white collar crimes include accounting schemes, the self-dealing of corporate entities, money laundering, commodities fraud, bank fraud and embezzlement, election law violations, mass marketing fraud, fraud against the government, mortgage fraud, and healthcare fraud.
Image source: businessinsider.in
Corporate fraud pursued by the FBI vary from schemes designed to deceive investors, auditors, and analysts of the financial condition of a business or a corporation. Specific crimes involve falsification of financial information, corporate insider information, and frauds in connection with otherwise legitimately operated mutual hedge funds.
With the scale of white collar crimes in the U.S., the FBI has formed partnerships with agencies spanning multiple areas of expertise such as security, taxes, utilities, pension, and commodities.
Adam Quirk is a criminal justice professional who has worked for years with the FBI and DEA. He now works as a private investigator in his company Stealth Advise. For similar reads, click here.
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