White-collar crime has long been associated with Wall Street, stockbrokers, business executives, and “office workers.” Cases like Bernie Madhoff and Sam Bankman-Fried of FTX are just two examples of how white-collar crime can do untold economic harm to its victims. For every one of these cases you hear about, there are a thousand others that never make the news.
The advent of readily available technology has made white-collar crime a large part of cybercrime. From stockbroker fraud to money laundering, embezzlement, forgery, and racketeering, white-collar crime is either fraud or theft.
In Florida, elderly individuals are more susceptible to fraud, especially with technology. White-collar crime is covered in Chapter 817 of the Florida Annotated Statutes.
Types of White-Collar Cybercrimes
In recent decades, white-collar crime and cybercrime have become enmeshed to become an entirely new type of crime. While spam emails and annoying robocalls are still in use, modern white-collar cybercrime is much more sophisticated, works faster, and is much more complex:
- Accounting fraud
- Counterfeiting
- Credit card fraud
- Corporate espionage
- Embezzlement
- Forgery
- “Hacking” or network intrusion
- Insider trading
- Medicare/Medicaid and other healthcare fraud
- Money laundering
- Mortgage fraud
- RICO violations (racketeering)
- Securities fraud (stockbrokers and investments)
- Social engineering
- Tax evasion
- Wire fraud
However, these types of crimes can leave distinct digital footprints. From call logs and emails to social media messaging, GPS tracking, and data from smart home devices are just some of the ways these crimes are detected. Specialized forensic software that can analyze reams of data and make the connections work faster increases the likelihood of not only finding the individuals responsible but also how they carried out the activity.
Penalties
Even though white-collar crime is nonviolent, it is no less devastating for the victims, both economically and emotionally. Many older victims are afraid to report the crime for fear of embarrassment or ridicule. The Florida Statutes integrate cybercrime into the statutes of The White Collar Crime Victim Protection Act. Both federal and state law enforcement pursue white-collar cybercrime aggressively.
Florida has several laws and penalties for white-collar and cybercrime:
- A second-degree misdemeanor: fines of up to $500, with a possible maximum of 60 days in jail
- A first-degree misdemeanor: fines of up to $1,000, with a possible maximum of one year in jail
- A third-degree felony: fines of up to $5,000, with a possible maximum of five years in prison
- A second-degree felony: fines of up to $10,000, with a possible maximum of fifteen years in prison
- A first-degree felony: fines of up to $10,000, with a possible maximum prison term of thirty years.
The state must prove specific elements beyond a reasonable doubt that you intentionally committed the offense that they are charging you with.
Criminal Defense Attorneys For White Collar and Cybercrime Cases
You may be under investigation for months while the prosecutor builds the case against you. Get ahead of the case by seeking representation to protect your rights before you are arrested and/or charged. You need a strong criminal defense attorney who can represent you in both state and federal court.
These are nonviolent crimes but can still lead to harsh penalties. If you are facing white-collar and/or cybercrime in West Palm Beach, contact Farkas and Crowley P.A. immediately. We are available 24/7, whenever you need us. Call (561)-444-9529 or contact us online to schedule your consultation.
