White Collar Crime: Your Business Might Suffer From It
You’re probably aware of the fact that criminals do come in all shapes and sizes, and they even come from different class spectrum. Even desk workers wearing a suit can very well be doing some crime. Although they may not be involved in violent crimes, but still, a crime is a crime. 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.
Still, it would be for the good of your business to make sure that what you believe is indeed true.
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.
Below are the types of crimes that are involved.
What do you think is the most common crime that small businesses are involved in? That’s actually tax evasion which could only result from fraudulent bookkeeping. However, there are some forms of tax evasions that may be classified technically as legal because of some legal loopholes. 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. If a business is incompetent with their employee records, they tend to commit such crime inadvertently.
What to do when investigated or accused
It doesn’t really matter if it’s a nonviolent crime, but white collar crimes are treated justly by looking at it the same as justice looks at other crimes. Keep in mind that there are quite a lot of people who is actually serving a life sentence just because they are charged with these sorts of crimes. Although there aren’t really that many people getting jailed because of this, they’re still guaranteed to pay hefty fines on top of many other business penalties. You have to remember that agencies responsible in investigating crimes like these are not pushovers so be sure that you cooperate fully and that you gather all evidence you could possibly get to help clear you. But most importantly, you have to get a good lawyer.
Monitoring your employees
If you’re the employer of a an insurance or any financial business, you have to make sure you’ve actually done background checks on your employees. One thing you would want to do is to hire trustworthy accountants who is capable of keeping an eye out for discrepancies as well as any suspicious data.