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3 Common Myths about White Collar Crime

man in a suit and tie looking away from the camera

Let’s debunk some common misunderstandings about white-collar crime.

1. Only Wealthy People Commit White-Collar Crime

Because of the name, many people assume that only wealthy and/or white-collar employees commit this type of crime. However, that isn’t the case. While it is true that many instances of white-collar crime involve employees in the financial industry, white-collar crimes are not exclusively committed by those types of employees. For example, a cashier may skim some money from the register drawer at the end of their shift. This is a white-collar theft crime.

2. White-Collar Crimes Can’t Be Committed By Accident

White-collar crimes are some of the only offenses that can be committed by accident. Miscalculations when reporting taxes, incorrect information on company documents, or other errors affecting profits could be picked up on as potential instances of fraud. In these accidental situations, it’s unlikely that the individual who made the error will be charged. Instead, they may have to pay a penalty for their mistakes, but they most likely won't be held criminally responsible because they had no intent to commit a white-collar crime.

3. White-Collar Criminals Don’t Go To Jail or Prison

You’ve probably heard the stereotypes about white-collar prisons, where they’re described as more of resorts than punitive institutions. However, individuals found guilty of white-collar crimes do often go to jails or prisons. In many cases, individuals face federal charges, meaning they are sentenced to time in federal prison if convicted.

Defense Attorney for White Collar Crime in Albany, NY

White-collar crimes happen more often than one might think, and individuals accused of these financially-motivated offenses must seek the help of an experienced defense attorney. At Schillinger & Associates, we have defended numerous clients facing accusations of fraud, embezzlement, money laundering, among other white-collar offenses. We know what it takes to fight these serious charges. Speak with our team about your case today by calling (518) 595-9529.