Fraudsters love the holidays as much as the rest of us. They take advantage of the busy season when we have reduced staff and added distractions. Watch this three-minute video by Director of Underwriting and Claims Michael Mulhern to stay safe this holiday season and avoid becoming the next victim of funds transfer fraud.
Use a checklist for every payment to avoid becoming the next victim. If you plan to be away from the office, arrange for a competent lawyer to supervise your practice and provide the lawyer and staff with your contact information. Ensure that the lawyer and staff comply with the anti-money laundering obligations in the Law Society Rules Part 3, Division 11 – Client Identification and Verification and BC Code rule 3.2-7. Further, staff may not deal with trust funds, except in accordance with the Law Society Rules Part 3, Division 7 – Trust Accounts and Other Client Property. Ensure you and your staff are aware of different scams, including the bad cheque scam (which has recently targeted a number of lawyers). We also recommend reviewing the names and ruses fraudsters have attempted to use against BC lawyers.