While not a crime of violence, white-collar criminal convictions can result in serious and life-changing consequences. Businesspeople and government officials can see their professional careers evaporate in a split second.
While not as high-profile, white-collar crimes remain widespread, yet the number of people prosecuted is supposedly minimal. The disparity comes from a perceived lack of prosecutions. The prevalence may be small, but the impact on victims can be significant.
Statistics tell the story:
- Identity theft and fraud have impacted more than 17 million Americans
- Approximately 5,000 white-collar arrests occur for every 100,000 U.S. residents
- More than a third of domestic businesses are affected by this illicit activity
- Over 50 percent of alleged embezzlers are managers
- Offenses only composed three percent of federal prosecutions, representing a reduction of 53.5 percent when compared to 2011
- Fraud composes the most criminal allegations (63 percent), followed by embezzlement, and larceny/theft
- In 2021, 4,727 saw prosecutions pursued, resulting in annual losses ranging from $426 billion to $1.7 trillion; 2011 saw 10,162 prosecuted; Ten years prior (2001) saw 9,507 prosecutions
- Ninety percent of white-collar crimes do not even reach the reporting stage
- While 24 percent of U.S. households were victimized by white-collar criminal activity, a total of 88 percent saw charges not filed
- Seventy-five percent of employees admit to stealing from their employer at least once, with half of those staff members confessing to continuing theft
Accusations of white-collar criminal activity do not mean that convictions are imminent. Help from an attorney focusing on this area of the law can help avoid guilty verdicts and protect reputations.