White Collar Crime Might Be Happening in Your Business
You might have already known for a fact that criminals come in all shapes and sizes, and they do even come from different class spectrum. Even desk workers wearing a suit can very well be doing some crime. Although they may not be involved in violent crimes, but still, a crime is a crime. 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 defending your business saying that your employees are all angels.
Well, you can’t really be too sure, can you?
It is crucial that you learn more regarding the oft-overlooked aspect of law. Getting to know more about such things will definitely reduce the risk of allowing your business get into trouble with the law.
The types of crimes involved
Think about the most common crime that small businesses are usually involved with. That’s actually tax evasion which could only result from fraudulent bookkeeping. However, there are some forms of tax evasions that may be classified technically as legal because of some legal loopholes. 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
White collar crimes will definitely be treated like any other crimes even if they are nonviolent crimes. Keep in mind that there are quite a lot of people who is actually serving a life sentence just because they are 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. You should also hire a good lawyer to represent you.
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 you would want to do is to hire trustworthy accountants who is capable of keeping an eye out for discrepancies as well as any suspicious data.
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