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Money Laundering Case Puts Spotlight on Law Firms' Use of Trust Accounts
A $3.5 billion asset forfeiture case that the U.S. Department of Justice (DOJ) brought in July grabbed the public's attention for the alleged purchases involved: a luxury jet, a Beverly Hills mansion, Las Vegas casino junkets and a stake in the Leonardo DiCaprio movie The Wolf of Wall Street. See “Big Law Firms Play Cameos in 'Wolf of Wall Street' Forfeiture Case,” Law.com, http://bit.ly/2bAw3To.
But for experts on how law firms handle client funds, another detail in the case may merit special scrutiny. Prosecutors claim that prominent law firms used lawyer trust accounts to hold huge sums allegedly pilfered from the government of Malaysia and laundered through U.S. institutions.
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How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.