Legal Defence for White Collar Crimes

The Straits Time - Singapore Best Law Firm for 2024, in collaboration with Statisca

Protecting Your Rights in White Collar Crime Investigations

Strategic Defence for Financial and White Collar Crime Charges

White collar crime encompasses financially-motivated crimes that are generally non-violent in nature. They are often committed by people holding positions of authority, such as company directors, executives and public officers.

If you are being investigated or have been charged with a white collar offence, our lawyers can advise you on the appropriate course of action, strategise and guide you through the investigation process and represent you during court processes.

These are some of the common white collar crimes that occur in Singapore:

Money laundering

Money laundering refers to the concealment of the origin of financial gains that have been acquired by illegal means. By hiding the original source of the financial assets, the assets can be used without others discovering the illegal activity that produced them. Examples of money laundering offences include:

  • Receiving stolen property
  • Acquiring, possessing, using, concealing or transferring benefits from criminal conduct
  • Disclosing your Singpass account details to facilitate the commission of an offence
Money laundering is mainly regulated by the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. Other statutes that cover money laundering offences include the Penal Code and the Computer Misuse Act.

Fraud encompasses a wide range of acts conducted in a dishonest or deceptive manner with the intention of gaining some benefit. Corporate fraud, in particular, refers to fraud committed by a company or against a company. Examples of corporate fraud offences include:

  • Criminal breach of trust
  • Dishonest or fraudulent prevention of a debt due to the offender from being made available for his/her creditors
  • Obtaining services dishonestly or fraudulently
  • Lodging a false and misleading financial statement
  • Fraudulent misrepresentation
Corporate fraud is regulated by multiple statutory provisions, including the Penal Code, the Companies Act and the Misrepresentation Act.

Insider trading, which is prohibited under the Securities and Futures Act, occurs when an individual possesses material non-public information about a company and uses that to engage in the trading of company shares. The individual is usually a company officer like a director or chief financial officer who has access to such information, or someone who came upon the information, such as a company officer’s spouse.

Tax evasion occurs when someone intentionally gives the Inland Revenue Authority of Singapore incomplete or inaccurate information regarding their income, expenses and other financial transactions in order to decrease their tax liability and/or obtain tax credits. Examples of tax evasion include:

  • Failure to reveal all assessable income
  • Declaration of fictitious expenses in order to obtain tax deductions
  • Exclusion of output tax imposed on local products
  • False or baseless claims over tourist refunds
Tax requirements are regulated by various statutes including the Income Tax Act, Goods and Services Tax Act, and the Customs Act.

Bribery occurs when someone offers or accepts a reward or gratification in exchange for doing or not doing a certain act. Corruption refers to situations where a person or organisation with authority accepts bribes, thus abusing their position of power.

The primary legislation that regulates various corruption offences is the Prevention of Corruption Act.

We're Ready To Help

If you are facing the difficulties of a white collar crime investigation or charge, Jacque Law LLC is ready to offer you expert guidance and support. Our experienced team of lawyers specialises in handling complex financial crimes, such as fraud, money laundering, and insider trading. We are dedicated to safeguarding your rights and interests during this critical legal process. Trust us to help you navigate these serious challenges with confidence.

Commonly Asked Questions

What constitutes white collar crime?

White collar crime refers to financially motivated, non-violent crimes typically committed by individuals in positions of trust or authority, such as corporate executives or public officials. Common examples include fraud, embezzlement, money laundering, and insider trading.

If you are under investigation, it is crucial to seek legal advice immediately. A lawyer experienced in white collar crime can help you understand your rights, navigate the investigation process, and develop a strategy to protect your interests.

Consequences can vary widely depending on the crime, but they may include significant fines, restitution, and imprisonment. Additionally, a conviction can lead to professional repercussions, such as losing your job, damaging your reputation, and affecting future employment opportunities.

While it is possible to represent yourself, it is strongly advised against due to the complexity of white collar crime laws and the potential severe consequences. Hiring an experienced lawyer can significantly improve your chances of a favorable outcome.

Common defenses include lack of intent, absence of evidence, entrapment, and reliance on professional advice. Each case is unique, and a skilled lawyer can assess your situation to develop the most effective defense strategy.

To reduce the risk of accusations, maintain transparency in business practices, adhere to legal and regulatory requirements, implement strong internal controls, and seek regular compliance training. Consulting with legal professionals can also help ensure that your business practices align with the law.