risk-management.php

Contact PEXA first if your transaction occured on PEXA:

support@pexa.com.au

1300 084 515

Banks most commonly used for trust accounts

Bank and weblink for further informationPhone
ANZ13 33 50
CBA13 22 21
NAB13 10 12
Westpac13 20 32
Bank of Melbourne13 22 66
Bendigo and Adelaide Bank1300 236 344
St George Bank13 33 30

Other banks


Bank and weblink for further information

Phone/email
AMP Bank Limited13 30 30
bankfraud@amp.com.au
Arab Bank Australia Limited1800 64 64 84
Bank Australia13 28 88
Bank of America National Association02 9225 6500
Bank of China1800 095 566
service.au@bankofchina.com
Bank of Queensland Limited1300 55 72 72
Bank of Sydney1300 226 546

info@banksyd.com.au
Citigroup Pty Ltd13 24 84
HSBC Bank Australia Limited1300 308 008
ING Bank (Australia) Limited13 34 64
Macquarie Bank Limited02 8232 3333
MUFG Bank Limited02 9296 1111
ME Bank13 15 63
MyState Bank1300 850 505
Qudos Bank1300 747 747

enquiries@qudosbank.com.au
Rabobank Australia Limited1800 025 484
Suncorp Bank13 11 55
United Overseas Bank Limited02 9221 1924
8 July 2020

Efficient habits cut risk

Doing legal work well requires a good work habit. Last year LPLC ran a campaign on developing the engagement habit to ensure you only took the right client, in the right matter, at the right time. The next step LPLC is focusing on this year is the work habit to ensure you do the work […]

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25 June 2020

Step up supervision in times of crisis

Supervision should not be viewed as a burden but a fundamental aspect of legal practice that drives staff and client satisfaction and firm profitability. The supervision of employee solicitors has always been important, and doing it effectively is even more crucial now many practitioners are working remotely. Picture this. You recently completed your first 12 […]

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25 May 2020

Personal cost orders against lawyers

What are they and what should I do if an application is made against me for a personal cost order? A court may make a cost order that requires a legal practitioner to personally pay an order for costs, as distinct from an order that requires their client to pay costs. A court’s power to […]

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30 April 2020

Acting for yourself may not pay off

Table of contentsSnapshotBell Lawyers Pty Ltd v PentelowLessons Snapshot Bell Lawyers Pty Ltd v Pentelow found that the Chorley exception is not part of Australian common law. Self-represented firms are not entitled to a costs order for the work done by partners or employees of the firm. Retain external lawyers to act in proceedings for […]

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6 March 2020

Choose your litigation clients carefully

Choosing the right client for you and your firm is never more important than in the litigation context. Litigation is stressful, costly and often confusing for any client, so making sure you are cautious when choosing to act for a client in a litigation matter is good risk management. There are often telltale signs at […]

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11 June 2020

Video conferencing in the COVID-19 era

This bulletin has been revised subsequent to its first publication on 9 April 2020 to reflect the introduction of the COVID-19 Omnibus (Emergency Measures) (Electronic Signing and Witnessing) Regulations 2020 (Vic). This bulletin covers: Using video conferencing to take instructions and give advice Using video conferencing to do VOI in property transactions Risk issues with […]

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11 June 2020

Witnessing wills by audio visual link under COVID-19 Omnibus

The process required for witnessing execution of a will via audio visual connection under COVID-19 Omnibus requires a considerable degree of organisation and skilful use of technology by both witnesses and testators to get right. Here we explain the key steps and methods to help practitioners navigate the process. Table of contentsBackgroundSteps for remote witnessing […]

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1 April 2020

Deferral option for LPLC 2020/21 premium renewals

For the upcoming insurance renewal LPLC will offer all law practices (solicitors and barristers) currently insured with LPLC the option to defer payment of their renewal premium to 30 November 2020. This measure is to give law practices financial breathing space and help to protect jobs in the legal community in this next critical period.  […]

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23 March 2020

COVID-19 Update from LPLC

Like all law practices, LPLC is responding to the unprecedented COVID-19 pandemic with the utmost thought to the health and safety of our staff, insured practitioners and the community at large. LPLC has not had any COVID-19 notifications, but in line with government advice and sound practice, our staff have moved to a mix of […]

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27 February 2020

File sharing email scam – multi-factor authentication will help protect you

What is happening There has been a spate of fraudulent document sharing emails circulating within the legal community that look like they are legitimate emails from other law firms. They ask the receiver (you) to access documents by clicking on a link to a document sharing platform such as Skyfish or Dropbox. These emails won’t […]

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5 August 2020

Urgent steps for moving to remote working

Compliance with Stage 4 COVID-19 business restrictions announced by the Victorian Government on 3 August requires law firms in the Melbourne metropolitan area to close their offices from midnight on 5 August 2020 and work from home.  Victorian Government Stage 4 Restrictions – Guide for Business Stage 4 Restrictions – Law institute of Victoria FAQ’s […]

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21 July 2020

Could you pick a scam email? -take the quiz

We all know by now that practitioners and firms are targets for email fraud. An increasing flow of cyber claims coming to us though tell us that not everyone is good at picking the difference between a legitimate email and one from a scammer. It gets harder as cyber criminals become more and more sophisticated.  […]

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18 June 2020

GST withholding key date looming – what you need to know

Certain contracts entered into before 1 July 2018 that settle after 1 July 2020 will be subject to GST withholding requirements. With this crucial date close by practitioners need to remember to consider GST withholding for these older contracts.   LPLC receives regular enquiries from practitioners about the GST withholding regime, so here are some […]

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28 May 2020

Client money at risk – EFT email fraud a continuing threat

Table of contentsIntroductionSecuring your systemMultifactor authentication is easy to doVerify bank account detailsLPLC online cyber-awareness course Introduction Lawyers retained in transactional matters involving the electronic movement of client funds are continuing to be targeted by cybercriminals through compromised email accounts and fraudulently sent or altered emails. There is no worse feeling for a practitioner than […]

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20 May 2020

Subject to finance timely reminder

Subject to finance clauses have always been a source of claims but attention needs to be paid to them more than ever in this current uncertain economic climate. There are two recurring mistakes we see in claims that are particularly relevant at the moment. The first is that clients are not adequately advised about how […]

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6 May 2019

Develop the engagement habit

Lawyers can get themselves into hot water when they neglect to go through a thorough client engagement process. Our handy engagement decision tool can help you develop a more manageable approach. Make it routine for every client and every matter.

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9 November 2018

Key Risk Checklist: Tax issues

This checklist contains the most common taxes and related charges and is not intended to be exhaustive. Ticking a box indicates who is responsible for considering the selected item. Both practitioner and client may be selected. A column has been included for initial comments. It is recommended that a memorandum be sent to the client […]

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23 August 2018

Key Risk Checklist: Cyber Security

It is essential that firms take steps to prevent cyber-crime as practitioners are increasingly at risk of cyber-attacks. This is a list of the things firms need to do to at least lock the door on cyber-crime. Cyber security ☐  Always authenticate email instructions that involve sending money by speaking to the client in person […]

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7 May 2018

Key Risk Checklist: Sale of land – questions for the vendor

Sale of land – questions for the vendor   Instructions ☐  Please circle yes or no as applicable. ☐  Please provide the additional information as indicated e.g. a copy of your title(s). ☐  If you do not know the answer or are unable to provide the additional information please insert the words ‘not known’. ☐ […]

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24 April 2018

Key Risk Checklist: GST

GST is not simple but there are some easy steps you can take to help protect you and your clients. References to divisions and sections can be found in A New Tax System (Goods and Services Tax) Act 1999 (Cwlth). GST alert – for contracts entered into from 1 July 2018, purchaser to collect and […]

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28 February 2019

Claim free conveyancing

Additional conveyancing download: Default notice Rescission notice Table of contentsIntroductionEmerging risk – cyber fraudThe causes of claimsThe most common mistakesLPLC Vendor’s Practitioner ChecklistPurchaser’s Practitioner ChecklistAppendix One: Suggested form of letter to client if requested to prepare a section 32 statement in a hurryAppendix Two: Owner builder obligationsAppendix Three: Rescission NoticeAppendix Four: Owners corporation certificate issues […]

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17 September 2018

Small business big risk

Since LPLC published the first edition of Small business – big risk there have been some changes in the legal landscape which are particularly relevant to transactions for the sale of small businesses including the introduction of: the Estate Agents (General, Accounts and Audit) Regulations 2008, which has made substantial changes to both the form and content […]

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6 August 2018

Pitfalls in personal injury litigation

Table of contentsPersonal injury litigationThe causesThe best risk management – an informed clientCommon mistakesWorkplace injuriesPublic liability and medical negligenceTransport accident claimsEmerging area of riskLPLC Personal Injury Litigation ChecklistAppendix 1 Personal injury litigation Clients seek out litigation lawyers only when something has gone wrong. In the personal injury arena, they have the added difficulty of dealing […]

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24 July 2018

Keep managing mortgage risk

Table of contentsAdditional mortgage downloadsIntroductionAmadio claimsImprovident transactionsMortgage fraudNo or inadequate securityAdvice on equity release productsLPLC Checklist: Advice on equity release productsTaking instructionsThe effect of the transactionIssues of duressLPLC Amadio ChecklistAppendix OneAppendix TwoAppendix ThreeAppendix FourAppendix FiveAppendix Six Additional mortgage downloads Solicitor’s Certificate – Direct Borrower Solicitor’s Certificate – Third Party, Guarantor etc Translator’s Certificate Client acknowledgement […]

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24 April 2018

Avoiding superannuation claims

Table of contentsIntroductionCommon themesSuperannuation related claims from 1 July 2015 to 30 June 2017Areas of lawSuperannuation checklistAppendix one Introduction Every year LPLC sees claims involving superannuation funds. Claims sometimes arise because the practitioner does not have sufficient knowledge or experience with superannuation matters. Practitioners who regularly act in this area will agree that extensive expertise […]

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7 June 2019

Risk video bite – Adequate security or loans

Presenter: Matthew Rose, LPLC Risk Manager

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2 May 2019

Risk video bite – Attention to detail in wills and estates

Presenter: Heather Hibberd, LPLC Chief Risk Manager

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5 April 2019

Risk video bite – Systems save claims

Presenter: Stephen Bubb, LPLC Risk Manager

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1 March 2019

Risk video bite – Buying or selling a small business

Presenter: Matthew Rose, LPLC Risk Manager

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1 February 2019

Risk video bite – Inadequate advice

Presenter: Phil Nolan, LPLC Risk Manager

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29 March 2019

Retrospective changes proposed for residential ‘off the plan’ sunset clauses

Table of contentskey risk alertsSunset clauses – details of the proposed amendments Retrospectivity trap for practitioners What you should do now Other legislative changes proposed in the bill key risk alerts New bill proposes changes to the operation of sunset clauses in residential off the plan sales contracts. Proposed new requirements will prevent a vendor […]

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15 August 2018

Vendor/supplier GST withholding notice

There is no prescribed form for section 14-255 supplier GST withholding notice. Below is a suggested form of notice practitioners are welcome to use or adapt.Page two of the notice contains some notes for its use.   Vendor_supplier GST withholding notice(PDF Version) | Vendor_supplier GST withholding notice(Word Version)    

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14 August 2018

Medical Treatment Planning and Decisions Act 2016 (Vic)

Key points Appointments of medical treatment decision makers and advanced care directives replace medical powers of attorney and refusal of medical treatment certificates from 12 March 2018. Medical power of attorneys entered into before 12 March 2018 are taken to be appointments of medical decision makers. Any refusal of treatment certificates created before 12 March […]

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7 August 2018

Some purchasers required to withhold GST from 1 July 2018

Download PDF Suggested resources: Vendor/supplier GST withholding notice Key points New GST withholding regime applying to some settlements from 1 July 2018. New notification obligations on vendors of new residential or potential residential land. New notification and withholding obligations on purchasers of new residential or potential residential land. Penalties apply for both vendor and purchaser […]

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27 June 2018

GST withholding special condition

Download PDF GST withholding 1.1. In this special condition, section references are to Schedule 1 of the Taxation Administration Act 1953 (Cwth) as amended by Treasury Laws Amendment (2018 Measures No.1) Act 2018 (Cwth) and asterisked terms have the same meanings as when used in that schedule. 1.2. If section 14-255(1) applies to the supply […]

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