WOTC - Managing escrow account

In the past, there were several instances where lawyers asconded with the money entrusted to them by their clients and paid into escrow accounts.

Is there a better way to manage this risk? Should a specialised third party be appointed to offer this escrow account service?

See the result of this survey here.
https://wisdomofthecrowd.sg/chart3.aspx?id=1387