White Collar Crime Might Be Happening in Your Business
You’re probably aware of the fact that criminals do come in all shapes and sizes, and they even come from different class spectrum. A person in suit working behind a desk can very well be engaged in crimes. Their crimes are not necessarily violent, but the fact that they’re committing crime, it’s really still the same. And this definitely has some serious effects on both the business and economy sectors. This article talks about the kind of crime which is known as the white collar crime, involving finance capabilities and abuse of business.
You might be defending your business saying that your employees are all angels.
Well, you can’t really be too sure, can you?
It is very important that you know more on the oft-overlooked aspect of the law. Getting yourself informed regarding these things is the best way for you to make sure that your business doesn’t get into trouble with the law.
The types of crimes involved
What do you think is the most common crime that small businesses are involved in? In case you don’t know yet, it’s actually tax evasion because of fraudulent bookkeeping. However, you may also have heard of legal loopholes that may result to tax evasions therefore it’s considered to be technically legal. There’s also this asset retention made for the purpose of criminal conversion, making it the reason for embezzlement lawyers to be busy. There is also what is known as payroll fraud, wherein a business incorrectly lists an employee just so they can avoid paying them what they actually deserve. This type of crime is committed by businesses if they’re not really that strict with their employee records.
What to do when investigated or accused
White collar crimes will definitely be treated like any other crimes even if they are nonviolent crimes. As a matter of fact, there are quite a lot of people serving life sentences just because they’re charged with these sorts of crimes. Although jail is uncommon, people who are guilty with such crime will be guaranteed to pay some hefty fines and other business penalties. Agencies investigating such crimes are surely not pushovers which is why you have to make sure that you cooperate fully and that you be able to gather every evidence you got just so they can clear you. You should also hire a good lawyer to represent you.
Make sure you monitor your employees
If you’re an employer of a financial business, it is essential that you conduct background checks on all of your candidates. You might also want to only hire trustworthy accountant who can actually keep an eye out for suspicious data or any discrepancies.…