Prosecutions for white collar crime is on the rise. As the economic recessuion deepens, business owners, employees and managers are exposed to investigations relating to business practices. Review this guide to White Collar crime.
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What is White Collar Crime?
White Collar Crime is broad in its definition. It encompasses business crimes, internet crimes, corruption and financial frauds. White collar crime does not usually involve physical force and may impact government operations, business operations, industries and individuals. White collar crime may be a state or federal offense and carry with it severe penalties including lengthy incarcerations and fines. Prosecution is on the rise. WIth a recessionary economy, weak business models become weaker leaving investors searching for a remedy and, perhaps criminal charges.
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Who is at Risk?
Business owners are at greatest risk. Facing new and ever changing legislation and governmental regulations, it is far to easy for even the an honest business person to run afoul of criminal laws. Each day, newspapers and national magazines are filled with reports of criminal investigations related to business. Issues related to alleged ponzi schemes, securituies violations and mortgage fraud appear regularly. Even the best intentioned managers, directors, contractors and employees may be the subject of a white collar criminal investigation.
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Federal Offenses
To emphasize the seriousness of white collar offenses, the FBI has identified several areas it considers problematic white collar crimes.
• Antitrust Violations.
• Bankruptcy Fraud.
• Computer Crime.
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State Offenses- Computer Crimes
(1) MSA 609.89 Computer Theft.
(2) Computer damage. Computer damage includes transmitting computer viruses and/or intentionally and without authorization damaging or destroying any computer, computer system, computer network, computer software.
(3) Unauthorized Computer Access. unauthorized computer access may be a misdemeanor, gross misdemeanor or a felony depending on the risk that the access poses to the public A person is guilty of unauthorized computer access if the person intentionally and without authority attempts to or does penetrate a computer security system.
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Environmental Crimes
Crimes regarding the environment include unauthorized disposal of hazardous waste. The FBI and the Environmental Protection Agency Criminal Investigative Division have formed a local task force consisting of various local, state, and federal agencies, to address environmental crimes in the state of Minnesota.
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