White Collar Crime Costs Hundreds of Billions Each Year

White collar crime costs the United States about $300 billion dollars per year—and most Americans don’t even realize it. Because white collar crime is typically nonviolent, it doesn’t get the same kind of attention that others do. Whistleblower suits are often very effective in rooting out this kind of corruption.

What is white collar crime?

White collar crime is typically committed for financial gain. There is usually an element of deception, coupled with fraud, embezzlement, money laundering and other corporate crimes. Ponzi schemes and even Nigerian prince email scams are both types of white collar crimes.

Victims of these crimes may lose their life savings or watch as their company’s finances are destroyed. The public often loses trust in these companies. As a result, victims are left financially harmed, often with a great sense of personal shame.

Whistleblower protection for reporting white collar crimes

Whistleblowers often play a key role in uncovering and prosecuting white collar crime. However, many people are hesitant to report wrongdoing they’ve witnessed. They may fear that law enforcement will implicate them in the crime, or their employer will retaliate against them. Some whistleblowers may worry that their reputation in their respective industries will be harmed as a result.

Fortunately, there are state and federal protections for whistleblowers. The federal False Claims Act (FCA) prohibits employers from retaliating against employees who report unethical or illegal activity. This includes suspension of duties, termination, demotion or any other act which could be considered discriminatory.

To prevail on a FCA claim, the whistleblower must show the employer or supervisor was aware of the whistleblowing activities when they retaliation, and the employer acted as a result of the whistleblowing. Successful claims entitle the whistleblower to full reinstatement at their job and certain financial restitution.

If you’re ready to blow the whistle on white collar crime, the experienced whistleblower attorneys at Kardell Law Group can help. Call today to get started.