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Regularly review your bank accounts to ensure no unauthorized payments are being made. Unauthorized withdrawals from law firms do happen. If this happens to you take these steps: (1) Contact your Bank Manager and immediately put a stop payment on the cheques (2) Close the account (3) Open up a new account (4) Contact your IT department (5) Contact LIF so we can continue to monitor the risk (6) Report to your insurance broker for coverage under your crime insurance policy.
Practice Resource - Funds transfer fraud - Funds transfer instructions verification checklist
Code - Duty to report a trust shortage: BC Code rule 7.1-3(a).
Code - Trust cheques: BC Code rule 7.2-12.
Code - Dishonesty, fraud by client: BC Code rule 3.2-7.
Rules - Trust shortage: Law Society Rule 3-74.
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