Can I claim from the Law Society's compensation fund if my lawyer's trust account is drained by wire fraud?

The Law Society of Ontario maintains a compensation fund intended to provide relief where a client suffers a loss because of the dishonesty of their own lawyer or licensee, such as a lawyer actually misusing trust funds. It is a discretionary fund with its own claims process, and it is aimed specifically at dishonesty by the licensee, not simply any loss connected to a real estate transaction.

Where a trust account is drained by an outside fraud, such as an impersonation scam that tricked a lawyer's office into wiring money to a fraudulent account without any dishonesty on the lawyer's own part, whether that fits the fund's purpose is a fact-specific question rather than something to assume either way. Other avenues, such as a professional negligence claim against the lawyer if their office failed to take reasonable precautions, or pursuing the fraudster directly and involving police, may also be relevant depending on exactly what happened. Because eligibility and outcomes depend heavily on the specific facts, speak with the Law Society directly and with another lawyer about your options.