Article Index
Articles by Topics: Dishonesty
01 July 2014
, by Ragunath Kesavan, Chairperson, PII Committee
Circular No 137/2014
Dated 1 July 2014
To Members of the Malaysian Bar
Practice Alert: Legal Firm Scammed into Releasing Client’s Money to Fraudster
It has come to Bar Council’s attention that a legal fir...
01 March 2013
Keywords: Accounts, Dishonesty, "Firm Management", Fraud, "Office Management"
Disclaimer: This extract was taken from the article ‘An Explanation of Some of the Main Terms of the 2013 Certificate of Insurance’ which was published in JURISK! March 2013. The information herein has been edited to reflect the ...
08 June 2012
Keywords: Accounts, Dishonesty, Embezzlement, "Firm Management", Fraud, Technology, "third party"
Research has shown that small to mid-size practices are often more vulnerable to fraud than their larger counterparts because they have fewer employees. Firms with fewer employees tend to have less segregation among duties, with fewer intern...
01 June 2012
Keywords: Accounts, "Case Study", Dishonesty, Fraud, Misconduct, PII
…innocent partners within the firm will be protected and covered in a claim involving misconduct?
Dishonest and fraudulent conduct by any member of a Firm is detrimental to any law practice; even more so when it involves the misa...
01 June 2012
Keywords: Accounts, "Case Study", Dishonesty, Embezzlement, "Firm Management", Fraud, "Sole Proprietors"
The following are case studies of claims notified under the Malaysian Bar PII Scheme. All names of people and places have been replaced to maintain anonymity.
Case Study 1: Misusing Trust and Authority
Total amount embezzled: RM2,5...
01 December 2011
Keywords: Accounts, "Case Study", Dishonesty, Embezzlement, "Firm Management", Fraud, PII
Does your firm's PII Policy provide cover against dishonesty?
Public policy dictates that only an innocent partner/s can seek indemnity of any form. Clause 11 of the 2014 Certificate of Insurance (“COI”) protects and inde...
01 March 2009
Keywords: Accounts, Conveyancing, Embezzlement, "Firm Management", Fraud, "Office Management"
“No, it won’t happen to my firm! We’re always careful…”
A common statement when reading articles of this nature. Nevertheless, news headlines of recent months forecast a challenging year ahead - rece...
01 June 2008
, by Dilsher Singh, Jardine Lloyd Thompson Sdn Bhd
Keywords: "Client Account", Dishonesty, Embezzlement, "Fidelity Guarantee", "Firm Management", Fraud, "office account", "Office Management", "third party"
Record-setting fuel prices, inflation, world recession and commodity shortages which have financial impact on our day-to-day living are common headlines in newspapers today. During such times statistics reveal a sharp increase in employee fr...
01 June 2008
Keywords: Accounts, "Case Study", Embezzlement, "Firm Management", Fraud
Employee embezzlement is a growing threat to legal firms. Members should be alerted to the fact that in 2007 and 2008, there was an increase in the number of employee embezzlement cases (as reported by several legal firms to the Insurer of the Pll...
01 June 2008
Keywords: Accounts, "blank cheques", Checklists, Dishonesty, "Employee Embezzlement", "Firm Management", Fraud, "Improvement and Processes", "Office Management"
The list of questions below are non-exhaustive, they are basic safeguards that all firms should implement, if they have not already.
DO YOU:
Request for status reports periodically from your accounts staff?
Status...
According to the Association of Certified Fraud Examiners Report to the Nations - 2020 Global Study on Occupational Fraud and Abuse, a typical business is estimated to lose 5% of its revenue due to misappropriation of funds and fraud-related activiti...