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Unpublished Paper
Client Trust Account Fraud: Analyzing State, Federal, and International Rules and Regulations While Developing Effective Solutions for Prevention
ExpressO (2014)
  • Daniel H Smith, George Mason University
Abstract
CLIENT TRUST ACCOUNT FRAUD: ANALYZING STATE, FEDERAL, AND INTERNATIONAL RULES AND REGULATIONS WHILE DEVELOPING EFFECTIVE SOLUTIONS FOR PREVENTION Daniel Hooper Smith Abstract Client Trust Account Fraud: Analyzing State, Federal, and International Rules and Regulations While Developing Effective Solutions for Prevention examines client trust accounts and fiduciary duties associated with them and categorizes three types of client trust account fraud (“CTA fraud”). In addition, this Article compares four states’ client trust account rules and regulations and discusses how fraudsters attempt to circumvent the law in each jurisdiction. This Article then analyzes state, federal, and international agency regulation with respect to client trust accounts and proposes measures to implement to curtail CTA fraud. Finally, this Article describes steps taken by banks and other institutions to prevent CTA fraud and proposes both domestic and international solutions to reduce CTA fraud.
Keywords
  • client trust account,
  • fraud,
  • attorney escrow account
Publication Date
February 11, 2014
Citation Information
Daniel H Smith. "Client Trust Account Fraud: Analyzing State, Federal, and International Rules and Regulations While Developing Effective Solutions for Prevention" ExpressO (2014)
Available at: http://works.bepress.com/daniel_smith/2/