Post Roundup: Loss Prevention General
CLIA has a strong commitment to loss prevention. We take a proactive approach to avoiding claims and developed a Loss Prevention Strategic Plan to more focus our energies on helping lawyers find the loss prevention resources they need. In case you missed it, here is a collection of loss prevention posts to help you better manage your practice and avoid errors:
As a central hub for our nine subscribers, we’ve developed a Loss Prevention Online Repository to house the resources created by our subscribers and partners. A collection of links to numerous checklists, tips, articles and guides can be found from several Canadian jurisdictions. CLIA offers one-stop-shopping for those who need a quick source of loss prevention resources.
The Federation of Law Societies of Canada recently developed an online learning program to provide guidance to legal professionals on how to mitigate money laundering and terrorist financing risks and comply with their legal and regulatory obligations. As noted on the Federation’s website:
The practice of law exposes legal professionals to unique risks in relation to money laundering and terrorist financing. Although some practice areas present higher risks, any legal professional engaged in financial transactions may be targeted by criminals seeking to launder money or finance terrorist activities.
To combat these threats, legal professionals must understand the risks that may arise in their legal practice and be aware of their legal and regulatory obligations. Without such risk-based awareness and knowledge of the rules, they may find themselves unwittingly facilitating or participating in criminal activity.
For over ten years, CLIA produced more than 70 articles for our Loss Prevention Bulletin. While discontinued in 2016, the advice shared in some of these articles is timeless and still of value. We’re curating those articles to bring you our ‘From the Vault’ series, starting with the article below from 2012.
At the spring 2012 American Bar Association Standing Committee on Lawyers’ Professional Liability National Legal Malpractice Conference, Ronald C. Minkoff, Laura Frankel, Richard A. Simpson and Robert H. Moses presented a session on professional liability claims arising out of a family law practice. Their presentation included a Top Ten list of reasons why family lawyers are sued. As you review that list, I’m sure you’ll agree that most are equally applicable to lawyers in many other areas of litigation practice.