Legal Business

Beating ‘Friday afternoon’ fraud

Sophisticated criminals are increasingly targeting firms of solicitors with so-called ‘Friday afternoon’ frauds.

The Solicitors Regulation Authority (SRA) reported in March that it is receiving four reports a month of solicitors falling victim to these scams, which tend to involve a combination of identity fraud and cyber techniques, such as hacking and spear phishing.

The term Friday afternoon fraud has helped raise the profile of these types of scam – but it is important to note that they are certainly not confined to Friday afternoons, so firms and their employees must be vigilant at all times.