Impersonation fraud losses rocket
The scale of criminal activity which leads to financial loss has been laid bare by UK Finance’s half year fraud update. In total £753.9 million was stolen through fraud, an increase of 30 per cent compared to the same period last year. As banks improve their security measures, for the first time Authorised Push Payment (APP) […]
Work to be done on supervision of AML regime
The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has released its latest report on progress made in tackling money laundering by regulators over the past year. While this year’s report acknowledges that professional body supervisors (PBSs) within the accountancy and legal sectors have improved, it highlights differing levels of achievement and “significant weaknesses in […]
UK bank account fraud 25% up year on year
New research from Experian has revealed that bank account fraud is now tracking at its highest level for more than three years. Drawing on the latest data from the National Hunter Fraud Prevention Service, the analysis uncovered an alarming surge in fraudulent activity targeting British businesses and consumers. The fraud rate for current accounts rose […]
Retired solicitor imprisoned and struck-off for taking £275k from client’s estate
A retired solicitor has been sentenced to 32 months’ imprisonment and been struck-off by the SRA for taking £275,000 from a deceased client’s estate and transferring it into his own bank account. The Lancashire-based former solicitor, Andrew Eastham was an executor on a will drawn almost 30 years ago. Following the death of his client […]
Ransomware attacks up by 518% in the last year
Cybercriminals are becoming more aggressive, a recent report reveals. The report shows that cybercrime gangs are using even more sophisticated ransomware to extort millions from firms across the UK. The average ransomware demand has also increased by 518% from $847,000 in 2020, to around $5.3 million in 2021, with the highest single demand sitting at […]
Estate fraud – Not a victimless crime
‘How will anyone ever find out?‘ ‘I will put the money back just as soon as … has happened.’ These are just a couple of the thoughts that we assume go through the minds of those who help themselves to money belonging to deceased people’s estates. Sadly this occurrence is not as rare as one […]
Will forgery: can they get away with it?
Can disappointed beneficiaries forge signatures on wills, for their own benefit or the benefit of others? This is an unfortunate issue that contentious practitioners are beginning to see on a more regular basis. A recent judgment on this topic shows how important expert handwriting evidence is in cases like this. In Rainey v Weller, a case […]
Fraud and computer misuse crimes rise by more than a third
The Office for National Statistics (ONS) Crime Survey for England and Wales showed that there were an estimated 4.6 million fraud offences in the year ending March 2021, a 24% increase compared with 2020 figures. The survey also revealed that fraud and computer misuse offences have risen by more than a third in England and […]
The role of digital transformation in addressing probate pain points – the days of paper-based processes are limited
When CLS established their Estate Administration Customer Focus Group its primary purpose was to discover the ‘pain points’ probate solicitors experience. No amount of data and analysis is as good as a discussion with our law firm customers to help us find out about process problems and the barriers law professionals face when trying to […]
Law firms in SRA firing line over AML failures
The fines levied by the SRA on 13 firms in recent weeks continue to demonstrate a fundamental lack of understanding around responsibilities when it comes to the money laundering regulations. The firms in question had failed to comply with their procedural responsibilities to provide their firm-wide AML risk assessment and delayed their AML declarations. In […]
Crypto assets and estate planning: striking the balance between access and security
Research published by the Financial Conduct Authority (FCA) estimates that 2.3 million adults now hold crypto assets (up from 1.9 million last year) and as many as 78% of adults have now heard of crypto assets, up from 73% in a year. Cryptocurrency is a digital asset that can be bought, spent, saved or sold in much the same way as traditional assets. The […]
Seven more firms fined for AML failures
The Solicitors Regulation Authority (SRA) has issued fines to seven practices that have failed to comply with anti-money laundering (AML) requirements. The firms affected are Manchester practice Law Together LLP, Telford-based Picasso Legal Limited, Smooth Law Limited in St Helens, Manchester practice AB Corporate LLP, Devon firm Hole & Pugsley, Crawford & Company Legal Services Limited […]
Firms warned over security risk of WFH
Law firms jave been warned to rethink remote working policies to avoid cyber attacks and data breaches. The “Future of Working from Home” white paper has found that 41% of data breaches are caused by a lost or stolen device, highlighting the requirement for many legal firms’ IT departments to carefully consider working from home policies […]
Cyber security “here to stay” says Alpha Legal founder
Today’s Wills and Probate talks to Alpha Legal founder Robin Bennett , about a new service helping the legal industry work in the “new normal”. TWP: Robin, first of all, what’s the background to Alpha Legal? RB: Alpha Legal from Start Software solves the problems we are all having when seeing clients face-to-face is not […]
Another 7,000 clients are being protected by Alpha Legal
We should all know by now that emails are not secure! No professional advisor should be asking a client to send their passport, driving licence or bank statement by email. It isn’t safe for the client and it risks the advisor’s reputation if their email server is compromised and the ID documents are hacked. Stop using […]
Hospice money fraudulently spent by daughter
Willowbrook Hospice was defrauded of approximately £20,000 from Patricia Eden’s estate, after her daughter Deborah Nilsson spent the money on a new kitchen, bathroom and family holiday. The fraud came to light when Ms Nilsson’s daughter reported her. During the trial at Liverpool Crown Court, Ms Nilsson explained that her mother had changed her mind […]
New tool to help firms achieve Cyber Essentials accreditation
The coronavirus pandemic has changed the way cyber criminals target those they want to exploit. With this in mind, the National Cyber Security Centre (NCSC) has launched the Cyber Essentials Readiness Tool which helps firms prepare themselves for Cyber Essentials certification. The tool has been developed by IASME and asks firms a series of questions […]
Your mother’s will has been forged by your sister – what do you do?
Is your loved one’s Will not what you expected? Are there unexplained large gifts? Does one of the beneficiaries seem an unusual choice? Are the terms substantially different from their previous Will? If so, then you may consider challenging the Will, on a number of possible grounds, including forgery. However, allegations of fraud are extremely […]
Moving to a hybrid workplace
Join us for the legal services event aimed at preparing law firms for the relaxing of lockdown restrictions in the UK. The time has come to embrace a hybrid working model and set your partners and fee earners up for success. Date & Time: 25/05/2021, 10am (duration 2 hrs incl. Q&A) The UK Government has […]
AML: Remember who your client is!
Anti-Money Laundering procedures are embedded within every law firm across the UK to prevent their corporate structure being used as a vehicle for illegitimate, criminal activity. All solicitors must carry out sufficient transaction checks on their clients, in line with Anti-Money Laundering Regulations to ensure clients are who they claim to be. That being said, […]
