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. They may not be doing violent crimes, but it’s crime nonetheless. If this happens, it will only cause some serious effects to both the economy and your business. 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 thinking right now that this has nothing to do with you because your employees all seem to look like angels.
Still, it would be for the good of your business to make sure that what you believe is indeed true.
It is essential that you spend some time getting to know more on this aspect of law that is often overlooked. 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, you may also have heard of legal loopholes that may result to tax evasions therefore it’s considered to be technically legal. There are also these retention of assets keeping the embezzlement lawyers busy. There are also possibilities of payroll fraud involving an employee being listed incorrectly in the business and as a result, they won’t be paid with the right amount they are owed. This type of crime is committed by businesses if they’re not really that strict with their employee records.
Here’s what you should 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. In case you’re not aware, there are people serving a life sentence for white collar 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. On top of these, it would be best if you get yourself a reputable lawyer.
Monitoring your employees
If you’re an employer of a financial business, it is essential that you conduct background checks on all of your candidates. One thing that you have to make sure is to hire a trustworthy accountant who can actually keep an eye for any suspicious data as well as any discrepancies.