While white-collar crimes are typically non-violent, that doesn’t make them victimless. These crimes include identity theft, health care fraud, tax fraud, credit card fraud, and corporate fraud.
Such crimes often make the headlines because of their financial impact. White-collar crimes can jeopardize companies’ ability to stay in business, drain shareholders of their life savings, and cause the public to distrust corporations.
“White-collar crime carries serious consequences, from hefty fines to lengthy prison sentences, and even a single accusation can damage your reputation and career,” says a criminal defense lawyer at SBBL Law, who adds that anyone accused of such a crime needs legal representation.
“Hiring an experienced lawyer is crucial to protect your rights, build a strong defense, and navigate the complex legal system. Without skilled representation, you risk facing stiffer penalties and irreparable harm to your personal and professional life.”
Considering the seriousness of these misdeeds, keep reading to see six white-collar crime statistics to know about this year.
1. White-Collar Crime Adds Up to as Much as $1.7 Trillion Annually
When considering the financial consequences of white-collar crime, you might be surprised to learn that the tally could be in the trillions. Yes, that’s “trillions” with a “t.”
According to one source, financial losses stemming from such crimes, as of 2021, were estimated to be between $426 billion and $1.7 trillion annually. You might be wondering why there’s such a large gap in the range. The reason is that most white-collar crimes go unreported. So, the reported cases represent the tip of the iceberg.
2. Men More Likely Than Women to Commit White-Collar Crimes
Another thing you’ll notice if you look at white-collar crime statistics is that it’s a category of crime dominated by men. According to one source, males are responsible for 75% of white-collar crimes, while women are responsible for 25%. So, three in four white-collar crimes are committed by males.
3. Most Perpetrators Were Never Previously Punished for Fraud
Yet another source says 85% of people who commit white-collar crimes are first-time offenders. That means the vast majority of perpetrators don’t have a record signaling themselves as potential perpetrators of this crime.
4. 4 in 10 Perpetrators Are Between 25 and 39
The FBI reports that around four in 10 white-collar criminals — 41% — who were arrested in 2023 were between the ages of 25 and 39. Sometimes people assume that perpetrators are older professionals in high-level corporate positions.
While many people from that demographic are perpetrators, it might surprise some to learn that so many younger people just beginning their careers are also guilty of such offenses.
5. 39% of Perpetrators at Non-Profits Are Owners
The 2020 Global Study on Occupational Fraud and Abuse shows that 39% of people who committed fraud at non-profit organizations were owners or executives. The median loss for these incidents was $250,000. Meanwhile, 35% of such cases involved a manager or supervisor with a median loss of $95,000, and 23% involved an employee with a median loss of $21,000.
6. Tips Are the Main Way Occupational Fraud is Detected
The top way that occupational fraud is detected is courtesy of tips. About 50% of tips come from workers. Meanwhile, customers account for 21% of the tips, vendors account for 11% of the tips, shareholders and owners account for 1% of the tips, competitors account for 1% of the tips, and other sources account for 7% of the tips.
Once trust is lost, it’s often difficult to regain. While white-collar crimes are fortunately non-violent in nature, the end result can ruin the lives of victims and shake people’s confidence in institutions.
