“Financial crime” is a cover-all term for many kinds of financial crimes including fraud, identity theft and others. Every financial crime is a little different, and thus attorneys have to work diligently to protect their clients. Defenses that could work for one act may not work well for another.
With so many kinds of financial crimes possible, it’s first a good idea to know what you’re accused of. The following is a list of several common financial crimes that your allegations could accuse you of.
1. Identity theft
Identity theft is when one person uses another person’s identity without permission. It includes credit card fraud as well as using a Social Security number or other personal information.
2. Securities fraud
Securities fraud happens when a corporate officer lies or makes misleading statements about his or her company’s stock. He or she may also face allegations of fraud if confidential information is released related to the stocks.
3. Money laundering
Much like it sounds, money laundering is when a person or company moves illicit funds from illegitimate channels to legitimate channels. By doing this, the person or company is able to hide where the funds came from.
These are three extremely common financial crimes. If you’re accused of any of these or others, it’s important to begin working on a defense quickly. You may be falsely accused and be getting set up in place of the person who is actually guilty, or you could be guilty yourself. Whatever the truth is, a good defense can help you protect yourself and your future.
Source: FindLaw, “Fraud and Financial Crimes,” accessed Feb. 15, 2018