Financial Crime World

Belarusian Businesses Face Financial Crimes Epidemic, Say Experts

Minsk, Belarus - A growing number of financial crimes committed by businesses in Belarus has raised concerns among experts and law enforcement agencies.

The Consequences of White Collar Crimes

White collar protection refers to the defense of individuals accused of economic or financial crimes, including financial fraud, corporate crimes, false representation of information, money laundering, and other economic offenses. Lawyers specializing in this area of law often have extensive experience and knowledge of criminal law and financial crimes.

Internal Corporate Abuses in Belarusian Businesses

In Belarus, white collar abuses are often committed by high-ranking employees who use their official positions to embezzle funds, manipulate financial statements, or redirect company assets for personal gain. These actions can lead to bankruptcy and damage the reputation of the company.

  • Examples of internal corporate abuses include:
    • Manipulating trade secrets
    • Falsifying financial information
    • Concealing embezzlement of company funds

State Interests Violations

In addition to internal corporate abuses, officials have also been accused of violating state interests by failing to pay taxes or other mandatory fees. This can result in administrative fines and even criminal liability.

Protecting Your Business from White Collar Abuse

To protect their businesses from white collar abuse, experts recommend:

  • Assessing the economic security of the company
  • Identifying potential risks associated with hiring certain employees for key positions
  • Obtaining consent from candidates to request information about their previous offenses, credit history, and labor book

Implementing Internal Control Measures

Companies can also implement internal control measures, such as:

  • Creating a compliance system
  • Involving independent experts in investigations

Acting Quickly in the Event of Financial Abuse

In the event of financial abuse, companies should act quickly to identify cases of theft, fraud, and manipulation of financial statements.

The lawyers at Ambylegal, a leading law firm in Belarus, specialize in internal investigations, white collar crime, and speak English. They can advise on compliance systems, conduct internal investigations, and represent clients’ interests in state bodies.

Seeking Expert Help

If you or your company are facing a white collar abuse investigation, contact Ambylegal today to learn more about how we can assist you. Our team of experienced specialists is dedicated to protecting the rights and interests of individuals and businesses affected by financial crimes.