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The rapid increase in financial crime in the United States

On Behalf of | May 13, 2022 | White-Collar Crimes

White collar criminal offenses can take various forms, but they are all committed with the intent of some type of financial gain. While common types of financial crime in Michigan include fraud, embezzlement and identity theft, there are new and growing areas of criminal activity that involve money and finances. The federal government takes this type of crime seriously, but these cases can be difficult to investigate and prosecute.

New types of scams and fraud

There are new types of fraud that are becoming areas of concern. With the rise of different types of cryptocurrencies, a new category of fraud has emerged. Crypto and investment scams are at all-time highs, and phone scams are at high levels as well. While statistics indicate that white collar crime is increasing, prosecution of these offenses seems to be decreasing.

With levels of white collar crime gaining more interest, many wonder why the federal government has not done more to prosecute these crimes over the last several years. Some suggest the issue may lie in a focus of funds and manpower to fighting terrorism. Others suggest that the lack of prosecution has also led to an increase in what some call economic trickery.

Defending against white collar crime accusations

Regardless of the rate at which the federal government is prosecuting white collar crime, any individual facing these charges would be wise to take his or her situation seriously. If convicted of financial crime, which is a federal offense, one could spend decades behind bars. It is helpful for someone accused of these crimes to seek the guidance of an experienced Michigan defense attorney.