Corporate Crime
What counts as corporate crime?
- Sometimes, it is difficult to understand when the corporation, as opposed to the individual within the corporation, is responsible for the crime legally – especially as the crime itself is typically committed by a person within the organization
- Corporate crime itself is a type of white-collar crime, that is committed by individuals within the organization for the organization’s benefit
- Examples may include tax evasion and fraud – including forging records of profits or assets to mislead shareholders, commercial bribery (including bribery of public officials), embezzlement, as well as misrepresentation in advertising to consumers.
What happens when a corporation is accused of a crime, and why does it need defence?
- A corporation being accused of a crime means that it will undergo full criminal investigation and potentially be subject to punishment – which can mean huge fines as well as confiscations of assets
- Employees/workers in the company are not exempt either – often criminal investigations into individuals take place at the same time as the corporate crime investigation, and this means that both the corporation and individual can be punished.
Two types of crimes feel especially relevant in the 21st century; monopoly practices and environmental corporate crime
- With the rise of the internet, the law is still catching up with different definitions of monopolies, and how an online monopoly may act different from a physical one, yet still have the same effect. As it stands now, however, very few online companies have been in this type of situation in the UK
- Corporate environmental crime can be both an ecological and a PR disaster: it is extremely important to keep up with environmental regulations, both for the sake of the company and, of course, the Earth itself
- Environmental crime includes acts such as breaching permits and authorisations, breaching prohibitions, and failing to comply with environmental notices
- Corporate environmental regulations are wide-ranging and often strict; a manager may be in serious legal trouble for an employee’s actions even if they were not aware of them if the action can be attributed to neglect by the manager
- The Environmental Agency is responsible for most environmental criminal prosecutions, but local authorities and other regulatory bodies also have a role. They have an Enforcement and Sanctions policy, which is important to keep up with
- To make sure your company is following environmental regulations as safely and correctly as possible, you should contact our team, who can guide you in how to safely and legally run your business.
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