The threat of claims arising out of dishonesty is a serious one, both from a reputational and financial standpoint, and one which affects not only professionals, but also those who insure them. For obvious reasons of public policy, many insurance policies will not cover the professional for deliberate and obvious acts of wrongdoing, such as siphoning clients’ monies offshore.
There are also more subtle ‘accessory liability’ situations in which the professional indirectly assists a third party in some less obvious dishonest purpose, not necessarily for financial reward.
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