What are White Collar Crimes?

What are White Collar Crimes?

White Collar Crimes is a moniker attributed to criminal activity that takes place in a setting that is presumed to be a professional business environment that is classified as retaining an elevated social or economic status. The term White Collar Crimes is derived from the notion of ‘White Collar’ employment. Conversely, the notion of ‘Blue Collar’ has been presumed to describe manual laborers or employment that does not require academic degrees or certification. However, blue collar work typically requires extensive education and training.

White Collar Crimes vs. Blue Collar Crimes

With regard to White Collar Crimes, the primary classification of such crimes is attributed to criminal activity that takes place in the scope of finance. This can include investment fraud, money laundering, schemes, scams, cyber-crime, and a variety of employment that is believed to require advanced degrees. In contrast, a ‘Blue Collar Crime’ might be classified as a crime occurring in the workplace of a manual laborer. However, the distinction between ‘White Collar Crimes’ and ‘Blue Collar Crimes’ are considered to be colloquialisms without authentic legal or societal recognition.

White Collar Crimes Offense Profile

Legal Jurisdiction: Criminal Law, Finance Law, Corporate Law, Business Law, Cyber Law

Type of Crime: Misdemeanor or Felony – varies upon the nature of the crime

Criminal Code: Varies upon the location of the crime, including the applicable country, nation, state, or province

Range of Punishment(s): Fines, probation, associated penalties, or incarceration – varies upon case details

Duration of Punishment(s): Varies upon case details

Applicable Punishment(s): Varies upon individual intent, criminal record, criminal history, and the victim(s) involved. In circumstances in which White Collar Crimes retain methodological and extensive planning with the hope of defrauding a large amount of individuals through solicitation, the gross amount of loss sustained by the victims of such a crime are typically regulatory of the punitive recourse.

White Collar Crimes Allegations: Terminology and Associated Offenses

The following are commonly associated with charges of White Collar Crimes:

Securities Fraud: Securities Fraud can be identified by the illegal, unlawful, and unethical properties latent in its respective activities and participation, which can include a variety of monetary expenditures such as stocks, mutual funds, investment advice, and bonds.

Investment Fraud: The act of falsely reporting or describing an investment. In contrast to a fraud charge with the hope of defrauding investors by misrepresenting the return(s), conditions, and statuses of investment opportunities.

Corporate Crime: Criminal activity that takes place in the scope or realm of corporate-based business endeavors and commercial activity. This can include embezzlement, tax evasion, and money laundering.

Scam: An illegally-structured plan intended to defraud participants while providing profit and gain for its creators.

Ponzi Scheme: White Collar Crimes involving monies, assets, or items from new participants to be allotted to preexisting participants under the guise of returns from profitable investments.

Pyramid Scheme: A financial scam constructed through the promise of revenue to participants in exchange for further solicitation of new participants.

Arrest Process for White Collar Crimes

Individuals who have been served documentation in the form of an arrest warrant displaying a charge for suspected participation in White Collar Crimes, or who have already been arrested by law enforcement agents, are encouraged to cooperate with the arresting officers regardless of personal belief with regard to the charges. Individuals under arrest will be given the opportunity to consult with legal specialists subsequent to the arrest process. Resisting or fleeing from an arrest can result in harm, injury, and additional penalties.

The Preparation of a Defense Involving Allegations of the Participation in White Collar Crimes

Individuals are encouraged to consult with attorneys specializing in criminal law and, if possible, those who focus commercial law, criminal law, and finance law. In the construction of a defense, the individual may be asked to provide the nature of the White Collar Crimes in question, any included threats, the biographical information with regard to any and all victims, any previous arrests and/or convictions, evidence and witness testimony, full account of the details surrounding the event in question, and the arrangement for bail or bond.