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Category: Insurance & Risk Management

Professionals’ Assistance Program

As a lawyer, you provide vital services and support to the public. It is essential that you invest the time and energy necessary to take care of yourself. The Lawyers’ Insurance Programme funds the Professionals’ Assistance Program as part of risk management. We understand the value of the services you provide and we are committed...

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Cheque Fraud and Red Flags

Please be aware that the name Kingsley Adams was recently associated with a fraudulent cheque in a real estate matter. The Law Society would like to remind you to be aware of the increasing prevalence of cheque fraud and other scams. Below you will find copies of Notices previously sent which provide some guidance on...

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Responsibilities of the Profession re: Anti Money Laundering

The government of Canada recently released a comprehensive report on money laundering and terrorist financing risks in Canada. For your information and review, a copy of that report, titled “Assessment of Inherent Risks of Money Laundering and Terrorist Financing in Canada,” can be found at the following link: http://fin.gc.ca/pub/mltf-rpcfat/mltf-rpcfat-eng.pdf. The report concludes that lega

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Notice to Members – Fraudulent Scams

Lawyers in all areas of practice continue to be the frequent targets of bad cheque scams. These scams involve debt collections, business loans, IP licensing disputes or spousal support payments. Don’t be complacent and think you will never be fooled. These frauds are getting more sophisticated. The matters will look legitimate, the fraudsters will be...

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Warning to Law Society Members

The “Ransomware” computer virus has been active within our legal community. The virus is usually spread by infected email attachments or website links. It will scramble all the data and client files on your computer with virtually unbreakable encryption. You learn you are infected when a pop-up window states that all your files will be...

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Notice to Practising Insured Members

Report all Insurance Claims before June 30, 2015 The Law Society Member’s insurance policy is a “claims-made” policy. Accordingly, the focus is on when the claim is made and reported, not on the year in which services are provided and the alleged error is said to have occurred. For example, if a claim is made...

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Notice from Law Society’s Lawyers’ Insurance Program about excess insurance

Lawyers in Newfoundland and Labrador have mandatory insurance coverage of $1 million. Recent claims experience demonstrates that $1 million in insurance coverage may not be sufficient, especially when the mandatory limit not only includes damages but also defence costs. Costs to defend claims are ever-increasing. Lawyers and law firms without excess insurance have to satisfy...

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Fraud Warning: Unauthorized Access to Trust Accounts

The Law Society has recently become aware of the unauthorized electronic access of a firm’s trust account by an outside source. An investigation by the financial institution’s Fraud Investigation Services has confirmed that the suspicious activity on the firm’s trust account was in fact “fraudulent” and that the “hacker” most likely obtained the firm’s financial...

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Cheque Fraud and Red Flags

Below is an article from LawPro’s February edition of “Avoid a Claim Blog”. Even in Newfoundland and Labrador, we continue to see email scams being sent to our members. 20 Red Flags of Bad Cheque Fraud You Should Recognize Lawyers in all areas of practice continue to be the frequent targets of bad cheque scams....

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