OUR POLICIES AND CONTROLS
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OUR POLICIES AND CONTROLS
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Security and IT controls
MD Lawrence Inc’s premises are equipped with 24-hour surveillance cameras with on-site security guards in a secure and upmarket office park. In addition, MD Lawrence Inc has a backup electricity and water supply to enable business continuity in a challenging environment. The firm has procured state-of-the-art technology and has contracted an excellent IT host with clearly defined service level agreements.
Regulatory and legislative compliance - FICA
As an accountable institution specialising in conveyancing, MD Lawrence Inc understands the inherent risk that it is exposed to relating to financial crime (money laundering, terrorist financing, etc.). As a result, MD Lawrence Inc has developed a Risk, Management and Compliance Programme (RMCP) which complies with the requirements of the Financial Intelligence Centre Act (FICA), 2001 (Act 38 of 2001), including identifying and verifying all new clients with whom the firm conducts business. Ongoing due diligence is conducted to monitor the nature of each transaction and the source of funds. Enhanced due diligence is performed where potential high-risk clients are identified, in accordance with FICA and Know Your Customer (KYC) provisions. The firm provides continuous training to staff on mitigating strategies based on industry best practices, new trends and ways to identify red-flag scenarios and situations.
Conduct and quality controls
MD Lawrence Inc takes its reputation and that of its stakeholders seriously. As a good-standing institution, MD Lawrence Inc seeks to maintain a favourable image in the eyes of its stakeholders, including the Legal Practice Council, major banking institutions, property practitioners, clients and society at large. The firm has therefore implemented policies to guide its staff on how to conduct their activities and to be aware of decisions and behaviour that could damage the firm’s reputation and the ripple effect it could have on its stakeholders.MD Lawrence Inc has measures in place to identify noncompliance with its procedures, including regular quality assurance reviews, KPI assessments and performance discussions.
Payments and financial controls
To enhance the authentication and security of payments made by the firm, MD Lawrence Inc has implemented a policy whereby at least two designated persons have to verify and authorise payments before they can be processed. Once the necessary authorisation has been obtained, the document is sent to the firm’s financial department for payment to be released, thereby protecting the financial assets of the client. The authorisation and verification forms are then filed and sent to the company’s auditors each year. In addition, MD Lawrence Inc has implemented various manual controls to protect the firm, its suppliers, and clients against internal and external fraud.
The Protection of Personal Information Act
In line with the Protection of Personal Information Act, 2013, MD Lawrence Inc has a moral and legislative obligation to its clients, stakeholders and suppliers to protect their data. We believe that data is the new gold in modern business, therefore information security controls have been embedded to ensure the confidentiality, integrity and availability of information through data encryption, anti-virus, anti-malware, backup and restoration solutions, among others.