Crime has evolved over the years. Advancements in technology have given those who wish to break the law new tools that they can use to do wrong. One example of this is a white-collar crime. This type of crime is usually nonviolent and is carried out with people in positions of power to gain from a situation financially. People who have the technical expertise or a high social status are often able to manipulate the system. Below is a guide to 3 common white-collar crimes.

Blackmail

Blackmail is often used in white-collar crimes in order to pressure someone into making a deal. For instance, during business negotiations, one side may suggest that they have incriminating evidence which will be released unless the other party offer them favourable terms.

Insider Trading

Businesses and corporations will often engage in the purchase and sale of different financial securities such as bonds and shares. As with any investment, there isn't any certainty that you will receive any profit, in fact, you may be at risk of losing your money. To provide a level playing field, investors who have an interest in the securities of a company do not have access to important information regarding the pricing. This is to prevent this person from buying and selling shares using their insider knowledge to beat the rest of the market. 

For example, if the investor who has an interest in the securities also has access to sensitive information which suggests the share price is about to rise, they may be able to buy shares while they are cheap before the news is announced to the rest of the market. The shares will then be sold once the price has risen and the investor will profit. If you have access to privileged financial information, it is important that you keep it confidential to prevent accusations of insider trading.

Extortion by Official Cover

If you wish to obtain property owned by someone else, this should be done by reaching an agreement with the legal owner. This agreement may cover ordinary purchases, gifts or leases where it is agreed that ownership will pass from one person or company to another. However, extortion by official cover involves illegally obtaining property which is owned by someone else, safe in the knowledge that because of the official relationship you have with them, and the fact you are in a position of power will protect you from any legal challenge.

If you have been accused of a white-collar crime, you should contact a solicitor today.