What is White-Collar Crime?
The term white-collar crime describes an offence that is non-violent and financially motivated. Hence, the term ‘white-collar’ because it is usually committed by people wearing suits in their profession. In Australia, white-collar crime is on the rise.
Who commits white-collar crime?
Specifically, people in the business world commit white-collar crimes. For instance, a white-collar crime is committed by someone acting fraudulently to manipulate someone else or the financial system.
The Australian Federal Police said that many found guilty have exploited their position of power to commit the crime. For example, someone in charge of a huge corporation committing fraud. However, others have exploited their social status and used charities to launder the proceeds of crime.
White-collar crime impacts
White-collar crimes can have devastating impacts on the economy and community. As a result, punishments are often severe.
What are examples of white-collar crime?
Examples of white-collar crimes include:
- Bribery,
- Corporate fraud,
- Cybercrime,
- Embezzlement,
- Fraud,
- Insider trading,
- Market manipulation,
- Money laundering,
- Share sale fraud,
- Tax evasion.
Detecting white-collar crime
White-collar crimes often go undetected for long periods. This can happen for multiple reasons.
For example:
- Witnesses are scared to come forward,
- They don’t understand the crime, or
- Witnesses committed the criminal activity themselves.
Australia’s huge white-collar crime case
In 2017, a money laundering case made the headlines. Namely, The Commonwealth Bank of Australia failed to report suspicious transactions.
As a result, they laundered millions of dollars via its systems. Therefore, the bank had to pay the largest fine to date for money laundering.
The role of ASIC in white-collar crimes in Australia
In addition, The Australian Securities and Investments Commission (ASIC) also handles many parts of Australia’s corporate, market and financial sectors. Namely, they will investigate allegations of white-collar crimes and can help recover money.
Why you need a specialised white-collar lawyer
White-collar crimes are usually very complex. Therefore, you need experienced white-collar lawyers. In addition, we can help you build a strong defence against these allegations.
Likewise, we are skilled in analysing financial statements, transactions, and reports for our clients. Furthermore, our firm helps individuals, businesses, and organisations understand their rights. In addition, we are there to hold your hand through the complex legal system.
Are you facing a white-collar type offence?
Our experienced lawyers have years of experience in this area of law. Get in touch with us today. Call O’Brien Criminal and Civil Solicitors on (02) 9261 4281 to set up a free appointment.
1. Full-service criminal defence firm
O’Brien Criminal & Civil Solicitors is a full-service criminal defence law firm. Consequently, we provide legal advice on both criminal and civil law. After the completion of your criminal case, we can continue to represent you in your civil matter (if one exists).
2. Competitive costs
Your first consultation with one of our criminal lawyers is free. Here, we can discuss what your options are. Thus, if you choose to proceed with our services, we will provide you with a cost agreement. O’Brien Criminal and Civil Solicitors provides cost-effective and professional legal advice.
In some instances, we offer reduced fees or pro bono services at the discretion of our Principal. Finally, we can also assist you in applying for Legal Aid if you are eligible.
Speak to us if you have concerns regarding your ability to pay your legal fees.
3. Experienced team of lawyers
Specifically, our criminal lawyers have handled cases in courts across NSW at Local Courts, District Courts and the NSW Court of Criminal Appeal. Above all, we have a wealth of experience with bail applications, trials, sentencing hearings, and appeals.
4. Our trauma-informed approach to legal practice
O’Brien Criminal and Civil Solicitors utilises a trauma-informed lawyering approach. Furthermore, we understand that you have dealt with traumatic events. In conclusion, we know that engaging with authorities and courts is a stressful experience. Therefore, we are sensitive to your mental and emotional needs. For further reading go to our trauma-informed lawyering.
