Is the Rise in White Collar Crime Attributable to the Economy or Something Else?

Is the Rise in White Collar Crime Attributable to the Economy or Something Else?

White collar crime has always been around, even before the term was coined. You have seen countless movies where swindlers take advantage of hard working individuals to deprive them of their money or assets. However, in recent times, white collar crime has increased dramatically. This increase has sparked interest on whether white collar crime is increasing due to a floundering economy, or for some other reason.

Most people will have a gut reaction that of course the increase is due to a floundering economy. They will reason that in a down economy, people become more desperate and a substantial number of those people will turn to crime. However, we would submit that there exists the possibility that technology may be responsible for the increase in white collar crime. Our reasoning would be based on the premise that today, with access to the Internet, more people conducting business online, and the plethora of hackers and sophisticated criminals, white collar crime is exploding.

While both arguments are reasonable, and regardless of which side of the fence you come down on, white collar crime is responsible for the loss of billions of dollars by hard working individuals to those engaging in white collar criminal conduct.

One of the most prevalent white collar crimes is fraud. Fraud includes the following:

Bank Fraud – Bank fraud includes people getting your checking or savings account information and accessing those funds to steal money directly or make purchases.

Check Fraud – Check fraud includes people using your checking account to make purchases or withdrawals, either through using stolen checks or, with online purchases, using your checking account information.

Credit Card Fraud and Debit Card Fraud – Credit card fraud includes people obtaining your credit card information (credit card number, expiration date, and security code), and then exploiting that information to make fraudulent purchases.

Computer Fraud and Internet Fraud – Computer fraud includes utilizing the Internet to obtain personal information or hacking into your computer to obtain personal information that allows a white collar criminal to access and procure your money or assets.

Some steps you can take to limit exposure to these crimes include obtaining security programs for your computer. We also recommend you open a separate bank account and utilize a debit card with a set limit to make purchases online or at restaurants, as well as when traveling. This will limit your liability and the amount of headache you will experience if this information falls into the wrong hands.

Contact Our Office

If you, or someone you love, have been charged with fraud or other white collar crime, please contact the Law Office of John E. Kusturiss, Jr. today for a consultation. Attorneys Kusturiss and Poole have the experience and know how to help guide you through what can be a confusing process.,

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