Your clients may not be as vigilant about their personal information as they need to be. As a result, hackers could break into client emails or online data to gather sensitive information. They can use that information to pose as a client when communicating with your firm.

It's a lot easier to pose as a client over email than it is over the phone, however. Requiring clients to confirm requests verbally is a valuable way to limit your risk in the event that the client’s email has been compromised. Better yet, agree on some security questions when you start your client relationship, then use those questions to confirm any phone requests. For especially important or suspicious requests—such as transferring money to a third-party account—consider requiring a notarized letter.