When you hear the term white collar crime, you may wonder what kind of crime this refers to. The FBI says that a white collar crime is perpetrated by people who work in government or business and usually involves some kind of fraud.
When you think about fraud, you may consider credit card fraud before health care fraud comes to mind. However, incidents of healthcare fraud do occur in New York. It is important for you to understand what this can look like.
Investors, entrepreneurs and others in New York who are interested in finding new ways to grow their wealth and pursue new business interests know that sometimes they need to be careful about which ventures they participate in. With fraud being a concern in today's world, accurate records and other documentation is important. So too is an understanding of what types of things may raise a flag to outside persons unnecessarily.
Standing as the global hub of international business, it comes as no surprise that New York is also host to a number of white collar crimes. While nonviolent, white collar crimes typically involve the manipulation of finances and are usually committed by professionals in business and government. Although types of white collar crimes such as of forgery, embezzlement and falsifying business records can be serious, the legal repercussions that follow are often uncertain.
The term “white collar crime” actually describes a wide range of criminal offenses. Ultimately, however, they all describe the same general type of activity: one engaging in deceptive practices for financial gain. Given the amount of money that may be at stake in professional transactions, it may be easy to understand why stakeholders may be so quick to accuse one of wrongdoing when a deal fails. Yet as we here at the office of Neil S. Ruskin can attest to, not every failed venture is due to deception. Thus, the potential of being accused of a white collar crime should not dissuade you from doing business.
When it comes to white collar crime charges, the consequences can be devastating. However, it is important to keep in mind that these types of crimes take many forms and are not limited to incidents that occur within major corporations. In Brooklyn, and across all parts of New York, those who are accused of committing a white collar crime may have their lives upended in various ways. From time behind bars to costly fines and a damaged reputation, being accused of this type of offenses can shatter your life.
Many people may have a job or professional relationship with a company in New York that provides them some level of access to assets. These assets may or may not be liquid but could all have a financial value. Whether a vice president of finance or an independent accountant, people in these situations are likely aware of the need for properly documenting their work and actions taken. One reason for this is to protect themselves against potential accusations of embezzlement.