Anorak News | Common business crimes and how to void them

Common business crimes and how to void them

by | 7th, August 2019

Most common types of business crimes and how to avoid them

Businesses can deal with a number of white-collar crimes that are non-violent but are committed for financial gains. Small businesses, as well as large ones, can be at risk and taking several preventive measures is key, along with having a general risk assessment and management plan. In this article, we highlight some of the most common types of business crimes and provide information on how to avoid them.


Included here are a series of deceitful acts committed for the purpose of obtaining money from the victim. This is a broader category that includes insurance fraud or Ponzi schemes, however, we will be referring to business or corporate fraud. This occurs when a company issues false statements or produces false documents that are used to hide the losses or illegal transactions. Maintaining a good internal control policy, training your employees to avoid fraud and working with good accountants are methods of avoiding business fraud.

If companies are accused of having committed acts that can be categorized as business fraud, a team of experienced criminal law solicitors in London can help entrepreneurs with business crime representation, as required.


The act of taking money from a corporation, this can be enacted by employees who can find a manner in which they can use business funds or assets for their personal gain. Knowing your employees, as well as supervising the inventory, purchase orders and cash receipts are manners in which this action can be prevented. When needed, employers can also install security measures.

Tax evasion

Failure to pay the due taxes results in tax evasion, which is subject to penalties, as per the local tax laws. Companies can avoid being accused of tax evasion by working with a professional accountant who will file the tax returns accordingly. Tax evasion is different from tax minimization, which can be accomplished by legally using available tax deductions. 

Money laundering 

Money laundering schemes target businesses to make illegally sourced money legitimate through a transaction performed with an unsuspecting company. Businesses can avoid this by not accepting payments from unreliable sources and by implementing an anti-money laundering strategy that can include no-cash policies on transactions above a certain amount.

Protecting your business is possible by implementing a set of strategies and preventive practices as well as being aware of the possible risks. 

Posted: 7th, August 2019 | In: Money, Online-PR Comment | TrackBack | Permalink