There are many who think that financial cases fall under the civil case. But in reality, financial cases are considered to be theft or larceny and hence, they fall under criminal cases most of the time. Some of the financial cases include cheating people, abusing position, forgery, credit card fraud, money laundering and whatnot. There are specialized criminal defence lawyers Sydney who must be appointed if you have got involved in such a case. The following is the list of different types of criminal cases associated with financial frauds.
This is what is referred to as the misuse of one’s position. If a person of position asks for money in exchange for doing a work illegally, he is committing a crime of criminal offence. The person may have been elected or he can be a public servant. Even offering or giving bribe is a crime.
There are various types of fraudulent activities that can be related to financial matters. It can be tax evasion, insurance fraud, wire fraud, identity theft and cheating people and customers and much more. A person is likely to be arrested in case multiple witnesses report such activities. You need to hire specialized criminal defence lawyers Sydney to fight such cases and come out of it with a minimal fine.
White Collar Crimes –
Any activity that is performed to deceive people for financial gains can be called as white collar crime. The most common examples are Ponzi schemes where individuals and companies offer a high interest rate or return on investment in a very short time and trap the investors to take away the entire money and vanish.
Security Fraud –
A security fraud involves not disclosing the stocks an individual or a company holds. This can be done by showing misleading statements. This can be done to evade taxes on dividends and profits received. It also falls under money laundering act whereby illegal money source has been used to buy the stocks.
Apart from these, any financial activity which has not been filed under the income tax statement or any fraud committed with identity theft can be classified as criminal activity and the person will be liable to a criminal case.