THE PREVALENCE OF WHITE-COLLAR CRIME TODAY
White-collar crime today comes in many forms. While most people envision white-collar crime as something along the lines of case against Enron or the wheeling and dealing of Wolf of Wallstreet; unexpectedly, most white-collar crime happens in everyday settings. Any time an employee of a company writes a check to themselves for a personal expense, they have committed a white-collar crime. Most often, this illegal activity is not a one-time action. Usually once someone gets away with it the first time, they become emboldened to continue to take until the numbers just become too big to ignore. White-collar crime accounts for over $300 billion each year in America alone. Even with this huge number, it is estimated that nearly 90% of white-collar crime cases are never reported to law enforcement authorities. The recent trend in white-collar crime statistics has shown a decrease in white-collar crime prosecutions. The 1980s and 1990s saw nearly 10,000 white-collar crime prosecutions each year, while this past year saw just over 5,000 new cases. With a stronger current focus on immigration crimes and enforcement, the federal government has prosecuted less white-collar crimes than years past. White-collar crime at the current time has reached its lowest level of prosecution of cases since 1986.
SUPRISING STATISTICS
While it appears that the statistics have shown a decrease in overall prosecutions, that does not mean the government is turning a blind eye to crime. Below are some of the more surprising statistics that are associated with white-collar crimes:
HOW DOES THIS AFFECT ME?
If you are in an executive role at your job, then you are the most likely target for a white-collar crime investigation if anything goes wrong in your company. People in executive positions unfortunately tend to make regrettable decisions when their actions can easily go undetected for years before anyone realizes anything. If you are observing white-collar crime in your company or are afraid that you might be committing a white-collar crime yourself, then it is extremely important to seek the advice of an experienced federal white-collar crime attorney as soon as possible. The mere mention of federal investigation can spell doom for a company if it is not handled appropriately. White-collar crime investigations can hurt company value, consumer confidence, and the company’s overall reputation. While many people may view white-collar crime as generally victimless, the fallout from investigation and prosecution can be devastating to those involved.