Wire fraud is common, and it is costing Ontario lawyers money, time, anxiety, and loss of reputation.

Any time you are transferring funds, you are at risk of being a victim of fraud. Consider using this checklist, based on a document created by the Law Society of British Columbia’s Lawyers Indemnity Fund (LIF), for every wire transfer. The best way to avoid these costly frauds is to ALWAYS independently verify wire instructions by calling to confirm them before transferring funds and implement 2-factor authentication on your email programs.

---