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Attorney Peter Katz

Best Practices to Help Businesses Prevent White-Collar Crime

Updated June 2025

Looking out for the bottom line is necessary to have a successful business. It’s not illegal to take advantage of financial laws to increase profits and reduce your tax liability. But when does business wisdom turn into committing white-collar crimes? Sometimes, there’s a fine line, so working with experienced federal criminal defense lawyer Peter Katz is critical. Call (609) 849-3179 or connect with his financial crimes team online to discuss the best practices for preventing white-collar crimes in business.

Invest in Hiring and Training

Character, not just academics, should be at the heart of your hiring process. Taking the time now to check references and perform background and credit checks could save your business from substantial liability. Poor credit and subpar references are red flags for financial crimes.

Additionally, invest in approved financial crimes and ethics training, even if it’s only required for licensed professionals. The right training process can protect your company from direct liability for significant financial offenses and prevent ignorant criminal conduct, such as insider trading.

Create Strong Internal Controls

A checks and balances system can help prevent unwitting white-collar crimes and catch potential fraud. Always review your financial records and thoroughly investigate suspicious transactions. If necessary, you can work with legal counsel in New York to report suspected criminal conduct to the FBI, IRS, or SEC.

One of the best ways to catch and prevent white-collar crimes in your business is to create an environment where reporting potential wrongdoing is rewarded rather than punished. You should also consider investing in strong cybersecurity to avoid financial and data negligence accusations.

Due Diligence with Vendors and Suppliers

According to the FBI’s latest statistics, here are the top federal white-collar arrests in the United States:

Surprisingly, many white-collar crimes can be traced to unethical vendors and suppliers. They may provide counterfeit products or violate copyright and customs laws. Most instances of embezzlement and in-office fraud can be caught with strong internal controls, but catching vendor crimes can be more difficult. These are more common in ports of entry and cities known for counterfeiting, such as New York.

Top-Down Corporate Measures

Employees will follow the lead, especially when it comes to middle management. Be slow to hire and quick to fire at the corporate and management level. Your leaders should emphasize corporate ethics. If employees see leaders taking steps to prevent white-collar crimes, they will be more likely to come forward with information about potential criminal conduct.

Discuss Your Case with an Experienced Federal Defense Attorney

If you have questions about certain business transactions or behaviors, ask a financial crimes lawyer to analyze the facts and provide legal advice. Attorney Peter Katz knows what qualifies as a white-collar offense in New York and can help you take preventative steps to reduce criminal exposure. Call (609) 849-3179 or connect with his legal defense team online today.