A former partner at a major international law firm pled guilty earlier this month “to conspiracy to launder almost $19 million in funds from Kenneth Starr, the one-time financier who ran a $30 million Ponzi scheme,” according to The Wall Street Journal.

Hernando Today (a local news and information website for Hernando County, Fla.) reported that “The Florida Bar has filed a complaint with the Florida Supreme Court against a Spring Hill attorney following accusations that he and his paralegal mismanaged hundreds of thousands of dollars.”

The Milwaukee Journal Sentinel reported on the office manager of a debt collection firm who “pleaded guilty Monday to embezzling more than $75,000 from the operation between March 2008 and last October.”

All of these cases, from large firms to small, involved trust account fraud.

Effective trust (or escrow) account management has become an increasing concern. The importance of strong internal controls related to clients’ trust accounts cannot be overemphasized. You are responsible for the security of these funds. It’s essential to review and improve control measures to reduce the risk of fraud or innocent accounting errors that could endanger the survival and success of your firm.

Are your trust accounts secure? Are you sure?