White-collar criminal charges include embezzlement, money laundering and various types of fraud. Financial crimes may not seem as serious as violent crimes, but they can have a devastating impact on victims.
As such, aggressive prosecution is common in cases involving alleged financial misconduct. Some people may even find themselves facing federal charges. Technically, professionals in a broad assortment of different industries could end up accused of white-collar crimes, but some of them are more vulnerable than others.
What professions have the strongest association with white-collar crime?
Accounting and payroll positions
When looking at who is most likely to face allegations of embezzlement or possibly money laundering, those who work with money regularly are at elevated risk. They are in a position to fabricate or alter company receipts and financial records. As such, they can abuse that authority. They are also often the first ones suspected when employers or regulatory officials notice something amiss with company financial records.
Mortgage and finance professionals
Mortgage fraud is one of the most common forms of professional fraud. Some brokers and other mortgage professionals may not participate in mortgage fraud for profit schemes. They actively assist with or turn a blind eye to transactions intended to defraud lenders because they are not legitimate.
Others may help their clients secure mortgages by manipulating the mortgage application process and the information provided. Such scenarios are known as mortgage fraud for housing, and they are relatively common. Particularly if a foreclosure occurs, the professional who assisted with the transaction could be at risk of prosecution.
Support professionals in healthcare
Health insurance fraud is one of the most costly sources of fraudulent financial losses in the United States. Tens of billions of dollars in health care fraud occur annually. Much of that occurs at the provider level rather than involving patients claiming benefits they do not deserve.
Billing professionals and coding specialists, as well as office managers, may engage in insurance billing practices that violate the law for insurance contracts. Even though the professionals converting the care provided to billing codes or submitting them to insurance providers don’t necessarily receive kickbacks for their actions, they could still be at risk of prosecution.
Those facing white-collar criminal charges often need help developing a defense strategy. Getting assistance as soon as possible can help professionals avoid the worst consequences when they face fraud, embezzlement or money laundering charges.
