WHAT IS WHITE-COLLAR CRIME?

White-collar crime is a term used to describe illegal acts made by employees, corporations and business professionals. These non-violent crimes will typically involve deceit, secrecy and abuse of power and are usually motivated by financial gain or personal advantages.

Coined in 1939 by sociologist Edwin Sutherland, the name refers to “a crime committed by a person of respectability and high social status in the course of their occupation.” This can include fraud, insider trading, embezzlement, money laundering and wage theft amongst others.

Although these crimes may not be violent, that is not to say they are victimless. In fact, a single scam can bring a company to its knees, rob investors and bankrupt families. While a direct victim may not be hurt, these types of crimes can affect many people in different ways.

Various agencies work together to ensure white-collar crime is policed effectively. The Federal Bureau of Investigations (FBI) usually rely on organizations like the Securities and Exchange Commission, the Internal Revenue Service, the U.S. Postal Inspection Service and the Commodity Futures Trading Commission to identify evidence and track investigations.

Ponzi scheme

One major example of white-collar crime is the infamous Ponzi scheme. Charles Ponzi started out as a poor immigrant in the 1920s, working odd jobs and doing two stints in jail before creating his multimillion-dollar scam.

Ponzi realized he could make a generous living by taking on ‘investors’. He would promise lucrative annual returns of 50 to 100 percent which encouraged many to part with their cash. However instead of investing the funds, Ponzi pocketed the money and only paid ‘returns’ to give the illusion of growth.

His scheme soon began to unravel when too many investors requested to withdraw their funds that the fraudster had already spent.

If you have any suspicions about colleagues or employees, ICFECI can help. We are experts in computer and cell phone forensics, while founder Dan James has been a Certified Fraud Examiner for over 25 years. We have decades of experience dealing with corporate crimes and fraud, with a track record of success in uncovering schemes and compiling evidence that will stand up in court.

Resource: https://www.icfeci.com/what-is-white-collar-crime/

WHAT IS A FRAUD EXAMINER?

Fraud is a criminal offence, which involves doing an act by saying that you are someone you are not. For example, if you were to make a bank transaction as somebody else, that would be fraudulent. Fraud can also refer to forging people’s signatures or even the fraudster stating that they are somebody else on the phone, and making transactions on their part.

This crime can cause people to lose money or opportunities, at the gain of the fraudster. Any type of fraud is illegal and very frustrating for the victim, but it is particularly hard-hitting if they end up losing a lot of money due to the fraudulent transactions. If somebody feels like they have been a victim of fraud, they may hire a fraud examiner.

What is a fraud examiner?

A fraud examiner is a highly trained professional who helps people who have been a victim of fraud. They will help them assess how and why they were a victim of fraud, and what can be done about it. Our certified fraud examiners in Texas, mainly based in the Dallas and Fort Worth area, work with clients in the area to investigate their claims to being victims of fraud.

The fraud examiner will use their expertise and skills, as well as online resources, to reach a conclusion as to what happened to their client. They may then offer this evidence in court if the guilty party is caught and convicted.

The fraud examiner’s advice can also help the victim steer clear of fraudulent activity in the future.

Do I need a fraud examiner?

If you have been a victim of fraud, whether that be if you have lost a lot of money, or have missed opportunities due to fraud, and are based in the DFW area, our fraud examiners can help. We may be able to track the fraud and find the guilty party, which may help to provide you with some compensation. If you have lost a lot of money due to being a victim of fraud, our service is a worthwhile investment into getting it back!

Resource: https://www.icfeci.com/what-is-a-fraud-examiner/