White-collar crime is non-violent, and the motive behind the offense is financial gains or some personal advantage. Generally, the individuals accused of this crime are working professionals, common men, or board members of the company. In simple terms, white-collar crime refers to financial fraud, and the victims are common people who have to incur hefty financial losses. So, it will be wrong to consider these crimes innocuous or victimless. Different myths relevant to white-collar crimes should get debunked to give a transparent picture to the public and make them aware. Following are some myths about crime.
1. Lenient procedure for the white-collar crime
Many people believe that accused of white-collar crimes do not get investigated with the same dynamism as a street criminal, but it is false. With time, laws have become stricter for these criminals, and they can get harsh penalties as any other criminal as per their crime. So, these criminals are not different from others and go through the same rigorous trial procedure.
2. They do not serve jail time
Another fallacy with white-collar criminals is that they do not go to jail, which is false. The criminal convicted for the fraudulent use of a sizable amount of money often goes behind bars for an extended period. The serving time in jail for the criminal depends on the amount of money they have been accused of. The law for the service period varies according to country. So it will be wrong to claim that these criminals do not have to go to jail.
3. White-collar crime is infrequent
Unfortunately, people believe that white-collar crimes are rare, but it is false. Though you might have heard only a few cases in recent years, the people involved in the country’s law enforcement face these cases frequently. White-collar crimes are happening every day in various ways in different corners of the world.
4. Only wealthy people can commit this crime
The belief that only a wealthy person or people with power and influence can be a white-collar criminal is the biggest myth amongst the people. There have been many instances where people like school staff or church workers have conned people and convicted them of the crime. Ponzi schemes are the most preferred way to con the people. They lure people to invest in their scheme with the false belief of high returns and run away with their hard-earned money.
5. Powerful people are safe from the prosecution
The rich and powerful people often have reputed lawyers to help them get a clean chit for their crimes, but it is just a myth. The judiciary is above all the rich people. So, if the person has committed a crime and the evidence is against them, they will be proven guilty. For influential personalities, these charges are even more tarnishing because they break their reputation for the breach of trust. So, to say influential people are safe after the crime will be false.
Hopefully, the myths in your mind related to white-collar crimes are busted now. These crimes are frequent and leave people in distress. So it is our responsibility to make people aware of such fraudulent activity by giving them clear insights and helping them to fight for their rights against such crimes.