Serious Fraud and White Collar Crime
What constitutes Serious Fraud and White Collar Crime?
This is probably the largest area of crime within the business sector. It covers a vast area which includes banking fraud, bribery, missing trader intra community (MTIC) fraud, counterfeiting, credit card fraud, embezzlement, forgery, insider trading, investment schemes and money laundering, to name just a few.
What constitutes the offence?
Most of the above involve an element of fraud on the behalf of the offender. Put simply the offence of fraud would be committed where a person(s) or company dishonestly, to make a gain or to cause loss, make(s) a false representation, wrongfully fails to disclose information, or secretly abuses a position of trust. This also covers the offence of obtaining services dishonestly, where a person by any dishonest act, obtains services in respect of which payment is required, with intent to avoid payment.
Conspiracy
The offences very often involve an allegation of conspiracy. This involves an agreement between two or more people to commit an offence.
Who prosecutes these offences?
The offences are usually prosecuted by HM Revenue and Customs, The Department of Trade and Industry, Crown Prosecution Service, with larger fraud cases being prosecuted by the Serious Fraud Office (SFO).
Interviews
Invariably any investigation will involve attending an interview with either the Police or the SFO. Whether attendance at an interview is voluntary or following an arrest, it is always advisable to have a solicitor present, even if the person believes they have done nothing wrong. Representation at this stage can often make a significant difference to the outcome of a case.
Where would the case be heard?
Depending on the severity, the case may be heard in the Magistrates Court, although it is more likely where a serious and complex fraud is alleged that the case would proceed to the Crown Court.