Not all crimes that are committed are violent. Some crimes are silent but have a severe impact on the individual. One such crime is white-collar crime. Although they are typically non-violent in nature, they have a severe impact on an individual’s life. White-collar crimes include a range of offences, including fraud, money laundering, embezzlement, and more.
However, due to its complex nature, it becomes imperative for the victims of white-collar crimes to seek the assistance of a lawyer specialising in criminal law. For residents of Melbourne and surrounding areas, a Melbourne criminal lawyer will help you protect your rights against these crimes. But before you hire a lawyer, here are the things you must know about white-collar crimes.
What Are White-Collar Crimes in Australia?
The term white-collar crime was first coined in 1939 and refers to a range of non-violent crimes committed for financial or commercial gains. These crimes are characterised by deceit and violation of trust.
White-collar crimes are not always physical violence or a threat to harm the victim physically. These crimes are more like incidents where businesses, organisations, or individuals use deceptive practices for personal gain. Moreover, they have a high degree of planning and concealment. Hence, it becomes extremely important to hire a team of lawyers. Here are some common types of white-collar crimes that are committed in Australia:
- Fraud: It includes a range of activities in which an individual uses deceptive tactics to gain financial gain. Some examples include credit card fraud, insurance fraud, and security fraud.
- Embezzlement: Also known as breach of trust, it includes incidents where a person entrusted with money and property appropriates it for personal use.
- Tax evasion: This occurs when individuals don’t follow the tax rules and regulations and commit to underpayment or non-payment of taxes.
- Money laundering: This means disguising the source of money obtained in a business deal. The crime may involve monetary gains in drug trafficking and other heinous crimes.
- Identify theft: Unlawfully using someone else’s identity or the person’s data for illegal activities and economic gains.
- Insider trading: It means illegal buying or selling of securities based on nonpublic, material information about the company.
Laws That Govern White-Collar Crimes
There are several laws that protect the rights of an individual against white-collar crimes:
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act):
This law protects individuals against money laundering and financing of terrorism.
Criminal Code Act 1995:
The provisions in this law include the protection of rights against fraud, bribery, and corruption.
Australian Securities and Investments Commission Act 2001 (ASIC Act):
The ASIC Act regulates laws related to financial markets, corporations, and financial services.
Competition and Consumer Act 2010:
This law addresses fair trading practices, consumer protection, and other conduct related to deception and misrepresentation.
How To Proceed With the Investigation and Prosecution of White-Collar Crimes?
The investigation and prosecution of white-collar crimes are different from those of other types of crimes. The investigation typically involves a specialised agency that determines whether there was a breach of rights. Agencies such as the Australian Securities and Investments Commission (ASIC) and the Australian Federal Police (AFP) play a crucial role in these situations.
Remember that there are numerous challenges that come along the way of investigating these crimes, including:
- Access to evidence: These crimes are mostly well planned out, meaning there may not be enough evidence to prove your claims. The evidence includes buried data, which requires extensive analysis and electronic discovery.
- Legal nuances: The legal principles that are involved in such crimes are complex, and it is sometimes difficult to differentiate between an aggressive business strategy and misleading or illegal conduct.
This is why if you are a victim of white-collar crime, it is important to hire a team of professional lawyers. Only professionals will help you navigate through the complexities of the law governing white-collar crimes and enable you to achieve fair compensation.
Conclusion
Just because white-collar crimes are non-violent in nature doesn’t mean that the victim doesn’t have to face serious consequences. This is why it is important to hire a team of legal specialists who will help you navigate through the confusing lanes of rules and regulations.
Source – Doogue + George Defence Lawyers, Melbourne, Australia
