.svg)
- Run to the bank and alert them to a potential fraudulent transfer.
- Report to any potentially applicable cyber insurance if the fraudulent instruction was received electronically or if there may have been unauthorized access to your computer network. If your firm participates on the Coalition cyber policy, report here.
- Report to LIF as you would a Part A claim.
- Law Society Rule 3-74 (Trust Shortage) requires you to protect your client’s trust funds and immediately pay enough funds into the account to eliminate a shortage. Should you discover a shortage, you must immediately notify the Executive Director in writing of all the relevant circumstances if you have reason to believe that:
a. the shortage is greater than $2,500, or
b. you will be unable to deliver up, when due, any trust funds.
Please ensure that Coalition (or your other cyber/privacy insurer) has given you the green light to use your email before reporting to the Law Society's Trust Assurance Department by email (trustaccounting@lsbc.org). You may also provide your written report by fax: 604.646.5917 or by letter: The Law Society of BC, Attention: Trust Accounting, 845 Cambie Street, Vancouver, BC V6B 4Z9.
For sample letters for reporting trust shortages, see Appendix C of the Law Society's Trust Accounting Handbook (pages 81-83).
Please contact a Law Society Practice Advisor at 604.669.2533 or practiceadvice@lsbc.org if you have questions regarding your professional responsibilities.