Fraud Prevention
Now available for replay: LAWPRO CPD “Survival Tips to Prevent Fraud”
Fraudsters all over the world are targeting lawyers and law firms. Lawyers and law firms need real time tips to prevent frauds. In December 2021, LAWPRO and TLA’s program Avoiding the wire fraud nightmare – what you need to know to protect yourself and your clients introduced the latest wire scams against law firms and… Read More »
Categories: Fraud PreventionUpdate about fund transfers
There has been much written about how lawyers receive and deliver money from their trust accounts on behalf of their clients as part of a transaction. The issue comes down to ensuring good funds are being dealt with in order that value is exchanged. In Canada, our banking system works on the basis of trust,… Read More »
Categories: Real Estate, Fraud PreventionAvoid phishing and wire fraud scams over the long weekend
Fraudsters often increase their efforts over the holidays and long weekends when key staff may be away and people generally may be more distracted or rushing to get things done before the end of the year. The risk of getting duped could be increased this year with many of us working from home and the… Read More »
Categories: Fraud PreventionWhat’s wrong with this picture? Be on alert for fake IDs issued by different authorities or different times with identical photos
LAWPRO continues to see high levels of real estate fraud activity. Lawyers and real estate clerks should be on high alert for mortgage frauds. In some instances, fraudsters appear to have used photo ID, issued by different authorities, or issued years apart, but where the documents used the same picture. In these cases, it’s clear… Read More »
Categories: Fraud PreventionWatch for real estate frauds involving private mortgages
In a hot real estate market fraudsters are even more motivated than usual – there is a lot of money to be had and lawyers are common targets. LAWPRO is seeing a significant increase in the number of real estate frauds involving private mortgages. The Toronto Police Service recently issued a news release about ongoing… Read More »
Categories: Fraud PreventionWhat to do if money is diverted to a fraudster’s account?
There are multiple scenarios whereby fraudsters will attempt to have you wire funds to a different account than the one that you had intended to fund. Unfortunately, some of those attempts are successful. LAWPRO has received such claims and heard of many others. Here are some tips to assist you if such a fraud happens… Read More »
Categories: Fraud PreventionFraud warning from the Law Society of BC regarding shelf company enquiries
The following is a warning posted March 4 from the Law Society of British Columbia. While we have not heard of this being reported by any Ontario lawyers, firms that deal with shelf companies should be vigilant. Random calls and emails inquiring about shelf companies BC lawyers have reported receiving random phone calls and emails… Read More »
Categories: Fraud PreventionWire Fraud Scams on the Rise: 5 Tips to Reduce Your Risk
LAWPRO is seeing an increase in phishing attacks against lawyers trying to trick them into wiring funds out of their trust accounts to the fraudster. It starts with a hacked email system or impersonation using lookalike fake email address. We have seen cases where the fraudster has hacked into a lawyer or law firm email… Read More »
Categories: Fraud Prevention