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Firms holding client accounts are vulnerable to the risk of theft of confidential data, which could lead to the theft of client money held in client accounts. Firms of all sizes can be targeted and the effect on the scammed firm can be extremely serious both financially and reputationally.
If you find or suspect that your firm has been the victim of a scam, you must immediately take certain actions to safeguard your clients' money and potentially your firm's reputation.Click here to view the Guidance [updated 20 December 2016].
The Red Book is the acknowledged authority on practice and procedure