RISK AND PRACTICE MANAGEMENT TIP: Avoiding fraud during the summer holiday season
With decreased staffing during the summer months, being extra vigilant is important to avoid becoming the victim of a fraudulent scheme. Here are some red flags to be aware of:
- misspellings or inconsistencies with ID or addresses;
- sense of urgency with the transaction;
- willing to pay higher fees than normally charged;
- generally addressed emails (for example, “Dear Attorney” or “Attention Counsel”);
- your client denies or delays a promised payment of a retainer, demanding that you take payment as soon as the bad cheque arrives.
Remember, the first contact may be by telephone or in person and the client may present themselves in a very sophisticated manner. Be mindful of your obligations under the Client ID Regulations and keep digging until you are satisfied that this is a legitimate transaction.
For more information on fraud, visit the LIANS website at: http://www.lians.ca/rpm/fraud/
If you have any questions on these, or any other risk- or practice-related matters, do not hesitate to contact Stacey Gerrard, LIANS Counsel with the Risk and Practice Management Program at firstname.lastname@example.org or call 423-1300 ext. 345.