Who Investigates White Collar Crimes?
The agencies responsible for investigating white-collar crime are the Internal Revenue Service, Securities and Exchange Commission, FBI and the Department of Homeland Security. In the 1970’s and 1980’s The U.S. Congress passed a wave of laws and statutes to help prevent white-collar-crime. Passed in 1970, the Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law designed to combat organized crime in the United States. RICO made it easier to prosecute corrupt organizations and seize related assets. In 2002, shortly after the Enron scandal, Congress passed the Sarbanes-Oxley Act (SOX) to improve the relationship and accountability between corporations and their stakeholders. Criminal penalties for white-collar crimes vary, but most laws will demand a (usually hefty) monetary fine, a prison sentence or both.
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