Exploring the Common White-Collar Crimes in the United States

Posted on by New Mexico Criminal Law Offices

Experienced Criminal Defense for White Collar Crimes  in New Mexico

white collar crime White collar crimes are committed throughout the state annually.

They are also massively underreported in most states. White collar crimes are often thought of as “innocent” crimes, but they are no such thing. Often these crimes leave people financially devastated. That is why the punishments for white collar crimes are much harsher than defendants realize.

Where Did White Collar Crimes Come From?

White collar crime is a term coined in 1939. It was a crime initially committed by a respected person of society that had a high regard in their occupation.

Today, white collar crimes are broad and take over any crime that is done for financial gain. They could be commercial but are often done by government officials, business people, and professionals. White collar refers to the area of professionals that person has, such as wearing a suit or business attire. Today, white collar crimes are not even in person. Most are done over the Internet.

The Most Common White-Collar Crimes

White collar crimes are a comprehensive category. However, some types of white collar crimes are more often committed in the United States than others. These include:

  • Insurance Fraud – Insurance fraud can include automobile insurance, but also medical insurance and homeowner’s insurance policies. Filing false claims or amounts on the claims can also constitute insurance fraud.
  • Insider Trading and Stock Crimes – Stock market and financial crimes, like securities fraud, insider trading, hedge fund fraud, and manipulation are all crimes.
  • Computer Fraud – Computer fraud includes wire fraud, and sometimes adds mail fraud.
  • Identity Theft – Identity theft involves taking another person’s identity for financial gain. Such as taking loans or credit cards out in their name.
  • Bribery – Bribing a person requires money in return for an act or omission.
  • Tax Evasion – It is a crime to avoid paying taxes to the state or federal government purposely. If you purposely avoid paying taxes or you move assets and hide funds to avoid taxes, then you are committing tax evasion.
  • Embezzlement – Another common type of white collar crime is embezzlement. Embezzlement is the act of stealing funds from a trusted position, such as a CEO stealing money from their company or a broker stealing from his or her clients.

The True Effect of White Collar Crime

White collar crime is not victimless. Instead, it affects businesses and the victims for years. A person could have their entire life savings gone in a moment. Moreover, the widespread tactics use often affect hundreds of people. Businesses might have to file for bankruptcy because of a criminal act, and the toll of these crimes for the United States averages $3 billion per year.

Charged with a White-Collar Crime? You Must Call an Attorney

White collar crimes carry harsh punishments and could constitute a felony charge. To avoid the penalties of the federal government, you must contact an attorney with experience in these types of cases. Call New Mexico Criminal Law Offices today at 505-375-4671 or connect with us online to ask a question.