5 Common Business Crimes And How To Prevent Them

Business crimes are usually a violation of trust or embezzlement that can lead to disastrous consequences, ranging from lengthy investigations to significant financial losses, damaged reputation, and sometimes, even a threat to the very existence of an organisation.

To prevent business crimes, companies must assess their risks and take security measures. These include taking a firm stance against business crimes, intensely monitoring dubious cases, creating a culture of transparency, and acting sustainably in all areas.

International monetary authorities, such as the World Bank and the Organization for Economic Cooperation and Development (OECD), are extremely vigilant regarding white-collar crimes, and they have clear-cut standards, guidelines, and initiatives to combat the issue.

From insolvency offences to money laundering, corruption to cartel agreements, insider trading and piracy, the list of criminal acts under business crimes can go on. However, here are the most common business crimes that organisations should protect themselves from.

Business Espionage

Business espionage, also known as industrial espionage, involves the theft of ideas, knowledge, technical know-how or data. Private criminals or intelligence agencies working on behalf of a competitor or a nation may engage in business espionage for acquiring trade secrets and technologies.


We are familiar with the term blackmail, but in business crimes, it refers to a ransom demand, with threats of causing serious damage, such as blocking access to computer systems until the organisation pays the money.

Identity Fraud

Also called identity theft, identity fraud is a criminal offence in which a person or an entity deliberately uses the identity of another person or business to gain credit, financial advantage, or other benefits. A typical example of identity fraud is using the name of a reputable organisation to raise money from the public.


Common forms of corruption in relation to business crimes include patronage, cronyism, influence peddling, parochialism, bribery, and nepotism. Corruption paralyzes an organisation, blocks its progress, and damages goodwill.


A white-collar crime, forgery refers to making false legal documents or altering existing ones with the intention of cheating people.  Negotiable instruments, contracts, deeds, and receipts are documents that are usually forged.

Measures To Prevent Business Crimes

Implement Stringent Verification Systems

The implementation of a rigorous verification system will ensure fraud prevention. Additionally, do not allow one person to deal with all financial transactions or contracts. No employee should enjoy too much access or power that would enable them to commit crimes.

Track Online Activities

Business crimes often involve online activities. Use a high-grade fraud detection software that can track illegitimate transactions and also monitor the activities of your employees on the internet. Implementing an internet usage policy is a smart idea, if you don’t already have one.

Monitor Employees Closely

Keeping an eye on employees is a proven way to deter business crimes. For effective surveillance, use video cameras that can save the footage for future evidence.

Work With a Reliable Law Firm

Consider working with a specialised business crime attorney for advice on matters related to white-collar crimes. If you are based in the greater Sydney area and in need of a criminal lawyer Parramatta has some of the most experienced lawyers that can represent your business and its interests in a court of law.

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