Fraud Prevention
Warning: Beware of changes made to payment instructions in real estate transactions
The North Carolina State Bar sent out a warning to its members to beware of changes in payment instructions in real estate transactions. Scammers there hacked or faked the accounts of realtors and sent altered wiring instructions. They could also try to impersonate clients or other firms. (In a previous post about fake emails from… Read More »
Categories: Fraud PreventionScam calls to lawyers claiming to offer a new service from Rogers
An Ontario lawyer advised that he got a call from someone purporting to be from Rogers, inviting him to participate in a new website offered by Rogers for commercial leasing lawyers to help them increase their business. The lawyer asked him for more information, but the person insisted that he log on to a website,… Read More »
Categories: Fraud PreventionEmail scam targets firm members with access to bank accounts
A number of firms have reported a new kind of scam targeting firm staff that have access to bank accounts. The scenarios have all been slightly different, but the common aspect appears to be using legitimate email addresses of senior firm members to dupe another member of the firm staff (or other firm) into either… Read More »
Categories: Fraud PreventionThe Average Lawyer Is 90% More Skeptical Than Everyone Else: what this means for your clients, your colleagues, and your firm.
A skeptical lawyer is a good lawyer. He scrutinizes every line in a contract. He questions the opposing party’s arguments. He looks for hidden motives. He looks at the law with a critical eye. His legal decisions are guided by a healthy pessimism, which helps him guard against mistakes. At the same time, a skeptical… Read More »
Categories: Practice Aids, Career Management, Wellness and Balance, Law Practice Management, Diversity, Fraud PreventionProfile of an internal fraudster
According to the Association of Certified Fraud Examiners companies lose 5% of their annual revenues to fraud, with a median loss amount of $145,000. And law firms are not immune to this. The Lawyers Mutual of North Carolina blog has posted a “profile of a fraudster“, that can help firms learn to spot the red… Read More »
Categories: Fraud PreventionFraud report for February 2015
The pace of fraud emails and posts slowed somewhat in February compared to the previous month. We received 166 emails from lawyers (down from 187) and posted on 9 new fraud attempts (half the posts of January). The could partly be the result of a shortened month. 54% of the emails this month came from… Read More »
Categories: Fraud PreventionFour digital security risks at law firms
Joyce Brafford, a Law Practice Management Advisor, reminds lawyers in this LinkedIn article that keeping client information confidential “goes beyond just locked filing cabinets.” She lists four areas in which law firms may not be doing enough to ensure security: passwords, security programs, segregation of data, and encryption. The increased cybersecurity steps she recommends are… Read More »
Categories: Fraud PreventionSurvey of U.S. law firms shows cyber security a growing concern
Marsh USA has conducted a survey of fifty U.S. law firms to get their opinions on various issues concerning cyber security. The results indicate that the topic is high on the list of concerns at firms, but that many have not taken the steps necessary to prevent or respond to a cyber/privacy. 7% of firms… Read More »
Categories: Fraud Prevention