Safe Capital for Law Firms
The Problem
Payment scams and mistakes can occur when bank details are shared by email or other means
Criminals are targeting firms like yours
Because of the large amounts of money and time pressures that are often commonplace in legal transactions, law firms make an attractive target to fraudsters.
Law Firms must take steps to protect client money
People trust solicitors to look after their money. Failing to keep their money safe has wider consequences for clients and for the reputation of the profession. It is the job of firms to take steps to protect themselves and their clients' money.
Communication intercepts are a key threat to client money
Email Modification Fraud is highlighted by the SRA as a key threat to client money. There have also been reports of criminals intercepting and falsifying physical mail between a firm and client to request funds, as well as phone calls from fraudsters pretending to be the clients solicitor.
Any legal transaction where large amounts of money are involved are a potential target
Although conveyancing remains a frequent target, due to the large funds involved, criminals are broadening their attacks to other fields as well.
Our Solution
Safe Capital provides a secure solution for transferring funds between parties and sharing verified bank account information
Take Payments Easily
By using our SafePay service you no longer need to disclose confidential bank account information by email, phone or post. Clients pay you directly through Safe Capital without you disclosing your bank details externally.
Our solution provides peace of mind for you and your clients and mitigates the risk of client money being lost due to human error as well as email modification, payment diversion and malicious redirection fraud.
Safe Capital enables the transfer of client funds directly into your bank account, saving you credit/debit card fees and ensuring that funds arrive straight away - enabling you to confirm receipt of funds to your clients quickly.
- Swift and secure client payments with one consistent payment workflow for your clients
- Clients can pay by open banking, credit/debit card or manual bank transfer
- Keep client account details away from money launderers and protect clients from payment fraud
Share & Receive Bank Details
Using our SafeAuth service you can securely obtain verified bank account details for your clients, giving you confidence that you have the correct details.
Should you need to transfer funds to back to your clients, Safe Capital helps you to mitigate the risk of payments going to the wrong account through either human error or fraud.
- Obtain verified bank account details for each client at the outset of the matter
- Share your client account bank details securely with your clients only when needed
- Return client money promptly at the end of a matter using the bank details on file
