Australia, just like other countries, has its fair share of white-collar crimes. According to the latest Commonwealth Director of Public Prosecutions (CDPP) report, the Australian Federal Police reported about 25% of such crimes. In comparison, the Australian Securities and Investments Commission (ASIC) recorded 58%.
In Sydney and New South Wales, most financial crimes are related to card frauds, cheque frauds, and embezzlement. Incidents like this one in which a woman from Sydney was involved in money laundering worth 50,000 AUD often come to light.
However, a person should contact white collar crime lawyers Sydney when their organisation or employee unfairly accuses them of fraud. Such cases are highly complicated and involve lengthy duration. One must hire an experienced lawyer to defend their rights in such cases and ensure receiving the justice they deserve.
Being accused of money laundering, embezzlement, or crimes of a related nature can have a devastating impact on your career, besides causing immense mental trauma. It significantly affects one’s chances of reemployment, puts one in dire financial straits, and even can ruin their career permanently.
What are the two primary kinds of white-collar crimes you should be aware of, and how can a lawyer help you? Continue reading to find out.
Two main types of financial crimes
Under the laws of the New South Wales government, money laundering comes under the Crimes Act 1990 under Section 193B. It defines an offender as someone who deals with the proceeds of crime, knowing it was the proceeds of crime. Concealing the source of the money is also a punishable offence.
In April 2022, police officers in Sydney busted a significant money laundering operation, seizing worth 4.7 million AUD. A financial crime of this scale in which the individual is entirely aware of the crime and willingly conceals it carries a prison sentence of more than 20 years
However, if an individual does not conceal the offence, the maximum penalty is 15 years, while dealing with the crime recklessly carries a sentence of 10 years imprisonment.
You should contact your attorney without losing time in laundering cases because they carry heavy penalties and legal complexities. Your lawyer will help you during the police interviews or interrogations.
Your attorney will also try to convince the Court that you committed the crime to enable the enforcement of Commonwealth, State, or Territory Laws.
In Sydney and New South Wales, embezzlement is covered in Division 6 of the Crimes Act 1990 and is considered a severe criminal offence with ten years of imprisonment.
Sydney often witnesses cases of embezzlement in Australia. For instance, in June 2022, the Australian Federal Police arrested a 34 years woman and 27 years man for payment fraud worth 440,000 AUD. The police arrested the couple after a raid at their home in Lidcombe city in Western Sydney.
Your lawyers will fight tooth and nail by carefully examining and rigorously questioning the prosecution’s witnesses testifying in the case. They will provide the best defence possible by convincing the Court of your legal right to hold the property or claim you were coerced into embezzling the money or property.
You should always contact experienced white-collar crime lawyers in Sydney when you are accused of financial crimes like laundering, embezzlement, market manipulation, dishonesty, etc. They will ensure you receive justice and defend your rights in the Court of law.