Do you really know who you are dealing with?

Identity driven crimes account for nearly half of all frauds in 2014

A recent report carried out by CIFAS found that data driven identity crimes – frauds carried out using a victim’s identity details to obtain new accounts and/or take over those already existing – accounted for over 45% of all confirmed frauds in the first three quarters of this year.

We have all read about the constant threat to consumer identity, but now businesses are being targeted at an alarming rate.

The legal industry in particular is a very obvious target for criminals who are looking to make a quick buck and fast. The ease with which these sophisticated fraudsters are now infiltrating firms, lawyers and even the SRA themselves is frightening. The Law Society and the government last week released details of their bespoke cyber security training for lawyers and accountants which can be found here.

Having regimens and risk schemes in place can only serve to help firms and staff offer themselves, and their clients, greater protection.

CIFAS communications manager, Richard Hurley, comments: “For the modern fraudster, knowing somebody’s personal or financial details is a licence to print money and the continuing preponderance of such data driven financial crime must serve as a warning. Defeating it means we have to demand that organisations do more to handle our data securely, and ramp up their fraud prevention efforts. Individually, however, we also have a responsibility to look after our own details. Without doing so, we are effectively handing access to our bank accounts to a complete stranger.”

Mr Hurley’s comments are as relevant to a business as they are to the individual. What are you doing to protect your own money? Do you employ the same protection to your client’s money?

Lawyer Checker offers a simple and comprehensive check of the solicitor’s firm to which you are transferring funds to in a conveyancing transaction. Wouldn’t you want to know where your money was going? Is it an account with a track record of large transactions? Wouldn’t you like to have access to information about the firm you are dealing with to then be better able to make a decision on behalf of your client?

Allow a Lawyer Checker Account and Entity Screen search to give you the information which ought to offer you the best possible chance of making an informed decision about where your client funds are going to.  Call the Lawyer Checker team TODAY on 0800 133 7127 or email  to talk about how we can help you protect client money and increase your risk and compliance to meet OFR targets.


Associate News is provided by Legal Futures Associates.
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