Usually, when you speak of crime, the most common image that is likely to pop up in the minds of individuals is that of a merciless person holding a razor sharp knife in his hands with ruby red drops of blood dripping on the carpet or conducting a meticulously planned bank robbery or causing car accidents by running over an innocent person walking on a pavement and the likes. However, not all crimes result in deaths resembling blood and gore and there are also certain crimes that can be conducted in the absence of tangible weapons and that, precisely, are another name for white collar crimes. You can know more in depth information on this topic; Given below is a detailed compilation of everything that you need to know about white collar crimes and how you can deal with it, should you face a situation in your life whether you belong to Edwardsville, IL or any other region.
1. What is a white collar crime:
To put it simply, a white collar crime is one that is not committed with the intention of hurting anyone but with the sole purpose of securing one’s own financial future. The main intention of the person committing a white collar crime is to not intentionally hurt the victim but instead make sure that they get open opportunities to make money by unfair means. Usually, a white collar crime will lead up to people thinking strictly of company CEOs who have their own share of experience when it comes to exploring treacherous paths to mint money. This is basically due to the fact that several such cases have taken place in the past that have resulted in this memory being etched in people’s minds. Although a white collar crime is usually associated with companies that are usually of multinational nature and are massive corporations, you need to realize that white collar crimes can be committed by almost any organization, whether big or small.
2. Different types of white collar crimes:
White collar crimes are extremely versatile and there are several activities that can be easily classified as crimes of this particular nature. Some of them have been enlisted as follows.
Simply put, bribery involves influence of action by a person or a party in exchange of cash or kind of considerable value.
ii. Bank Fraud:
It is an activity wherein you make meticulous arrangements to mess with the bank funds.
iii. Credit Card Fraud:
This is extremely common in today’s digitized world and involves the use of credit cards in unethical ways to get access to goods.
There are also other kinds of white collar crimes that include blackmailing, cellular phone fraud, computer frauds, currency schemes, extortion, forgery, insurance fraud amongst others.
3. What are the punishments or penalties for a white collar crime:
Usually, the penalties differ from situation to situation and also based on the intensity and the type of white collar crime that has been committed. However, the two most common punishments that the guilty must go through are either fine in the form of money or a prison sentence. In some cases, both the penalties are implied if the intensity of the crime is grave.
Usually, there is a strict guideline system that guides the punishment level of the people involved in white collar crimes. These guidelines take into consideration the type of white collar crime that the person is involved in and their previous criminal records. Sometimes, when there is no relevant or major past criminal record, then the prison sentence may be a lot lesser than the usual one.