Financial Crime World

White Collar Crime Statistics in Belarus: Bankruptcy-Related Crimes on the Rise

Introduction

A recent analysis by experts reveals a concerning trend in white collar crime statistics in Belarus, particularly in cases related to bankruptcy. The Criminal Code of the Republic of Belarus outlines four types of crimes related to bankruptcy, including false bankruptcy, concealing a bankruptcy, deliberate bankruptcy, and obstruction of debt recovery by creditors.

  • False Bankruptcy: Falsely claiming insolvency can provide several benefits, such as the suspension of execution of obligations to creditors, prohibition of forced debt recovery through an indisputable write-off from the company’s account, and the inability to levy execution against the debtor’s property.
  • Concealing a Bankruptcy: Providing deliberately false information, falsifying documents, or misstating accounting records can be committed by individual entrepreneurs or company officials with various goals, including concluding transactions, obtaining property from others, hiding data to protect individuals from responsibility for failing to file a bankruptcy petition, and discouraging transaction invalidations.
  • Deliberate Bankruptcy: Deliberately creating or increasing grounds for insolvency of an individual entrepreneur or legal entity can be committed by individual entrepreneurs or company officials for personal benefit or benefit of a third party and causing large-scale damage.
  • Obstruction of Debt Recovery by Creditors: Concealing, alienating, damaging, or destroying the property of an individual entrepreneur or legal entity to prevent or reduce damages to creditors can be committed by individual entrepreneurs or company officials and causing large-scale damage.

The analysis of solvency and expertise is based on accounting data, which complicates objectivity due to the offender’s ability to deliberately distort data or keep it incomplete. This contributes to latency in investigating such crimes.

Expert Opinion

Roman Shpakovsky, Partner at Vilgerts Legal & Tax, notes: “The increasing number of bankruptcy-related crimes in Belarus is a cause for concern. It’s essential that law enforcement authorities pay attention to these cases and take necessary measures to prevent and investigate them effectively.”

Conclusion

The rising trend of white collar crime statistics in Belarus, particularly in cases related to bankruptcy, highlights the need for increased attention from law enforcement authorities to prevent and investigate such crimes effectively. Only through concerted efforts can we combat this growing issue and protect the integrity of businesses and individuals alike.