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. They may not be doing violent crimes, but it’s crime nonetheless. If this should happen in your business, then it will surely cause some serious effects that might tear you apart sooner or later. This article talks about the kind of crime which is known as the white collar crime, involving finance capabilities and abuse of business.
You could be in a defensive mode right now saying that your business is safe from this because you think that your employees are angels.
Well, it would be best if you can really be sure about that.
It is crucial that you learn more regarding the oft-overlooked aspect of 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, 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 are even payroll frauds wherein an employee is listed incorrectly just the company won’t be able to pay them what is owed. Businesses tend to commit this crime especially if they’re just not that competent 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. But most importantly, you have to get a good lawyer.
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. 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.