White-collar crimes refer to misrepresentation for financial benefits. In simpler words, it is called fraud. While the term "white-collar" might bring up images of businessmen in suits defrauding customers, it can be anyone. It could be the janitor of your office floor or the accountant in charge of auditing.

White-collar crimes are discovered long after the crime has been committed simply because it happens under the hood and well-planned. After all, people who commit these crimes are usually a part of the system. They understand how the system works, which gives them an edge in committing the crime.

It is not uncommon for innocent people to be bystanders in the fraud and will have to face criminal charges as a result. This is why it is important that you are aware of your rights and report foul play immediately. Nevertheless, if you are charged in connection with a white-collar crime, your first step is to see a lawyer. White-collar crimes are more grievous than standard criminal offenses, so get a lawyer as soon as possible.

Here are some common types of white-collar crime:

Tax fraud comprises intentionally attempting to evade taxes or to defraud the IRS. Tax fraud is usually committed by businesses and criminal entities, but individuals could also be caught in this fraud. Minor tax fraud in Maryland and other areas can be recognized by audit automation and reports of abuse. On the other hand, large-scale tax fraud usually spans reports and countries and involves scam corporations and offshore banking systems.

Securities fraud refers to fraud that is committed when trading commodities or stocks. Another way to put it is the manipulation of financial stock markets. There are several forms of securities fraud, some of which are advance-fee schemes, insider trading, high-yield investment fraud, and pyramid schemes. Due to the peculiarity of the industry, only the SEC and the FBI are involved in investigations of this sort. This means that securities fraud is a federal charge.

Insurance fraud is making a false claim to insurance providers in a bid to get insurance funds. One common way is for insurance holders to fill fraudulent claims, citing false events. Another way to do this is called premium diversion, where insurance agents have writers as clients and refuse to pay their premiums.

Embezzlement involves using funds or assets meant for a business for other uses. It is common knowledge that one has to be in a certain position to embezzle funds or make decisions that will support this cause. It is usually the access of the employee that gives them the power to make decisions that can affect the use of funds.

Money laundering refers to the concealment of an illegal money source by pushing it through several transactions in a bid to make the money look clean. People call it washing dirty cash clean, and it is usually done by shady entities such as terrorist organizations and gangs. There are numerous ways to wash the cash, but the outcome is the same - money laundering.

"If you have been accused of fraud, you need to get all the help you can to effectively handle the case," says white collar lawyer Rammy Barbari.

You will need to know your options, how to appear in court, and how your schedule will be in forthcoming days. Remember, your attorney will represent your interests, so ensure you choose well.