How Society is Affected by White-Collar Crime

william-stitt-162589-unsplash-copy-300x200White-collar crime may consist of various charges at both the state and federal level. The stereotype of an individual engaging in white collar crime may be the high-level corporate executive in a tailored suit who sacrifices the future of his company for personal gain. But a crime of this nature could be perpetrated by anyone in the office, from a mailroom clerk all the way up to the C-suite.

Additionally, a white-collar crime does not have to be committed by a person in a corporation or even someone employed. The criminal may be a charming neighbor who cons an individual out of his or her retirement savings. Offenses like credit card theft or counterfeiting do not typically involve violence, but they do have a serious impact on individuals, society, and the economy.

A white-collar criminal defense attorney can provide a level of protection against the severity of the penalties associated with these types of charges.

How Society is Affected by White-Collar Crime

One of the reasons white-collar offenses are so appealing to criminals is that an individual who steals from a person or company can easily rationalize or justify that behavior:

  • They could be disgruntled employees who feel they are not paid enough.
  • They could be business owners who believe they are smart enough to game the system.
  • They could be an average person who is convinced that a victim simply must report his or her card stolen and no harm is done.

White-collar criminals often believe that they are only stealing from people or companies who will not miss the money. The truth is that their actions have a ripple effect that, when compounded, can be devastating on a large scale.

When an organization experiences fraud or theft for any reason, it must make up for that loss in revenue. This could take the form of higher prices that are passed down to consumers, pay cuts to employees, or even layoffs. The effect can continue down the line and impact whether people are able to qualify for loans to bolster the economy.

When a highly publicized insider trading scandal is reported by the media, investor confidence is shaken, which often affects the market. The exact societal toll is difficult to quantify because the actual numbers are hard to calculate. White-collar crimes also frequently go unreported.

What makes matters more complicated is that many people disagree on what constitutes white collar crime even though it is clearly outlined in Illinois law. When a crime of this type is committed, there are often no eyewitnesses or DNA evidence. Often, the only evidence that exists is a labyrinth-like paper trail that takes skill and a lot of time to sift through.

Defend Your Rights with a White-Collar Crime Defense Attorney in Chicago

Committed to reducing the level of anxiety and public scrutiny that may arise from civil and criminal investigations, David L. Freidberg is recognized as one of the best criminal defense lawyers in Chicago and the surrounding area.

If you are facing charges related to a white-collar crime, Mr. Friedberg’s expertise includes (but is not limited to):

  • Money laundering
  • Accounting fraud
  • Antitrust violations
  • Bribery
  • Cyber crimes
  • Identity theft
  • Insurance fraud and
  • Mail or wire fraud

Legal professionals are available to speak to you 24 hours a day.

Call (312) 560-7100 or schedule a free consultation consultation today to discuss your case.

(image courtesy of William Stitt)