FAQ
Frequently asked questions
Does CaEFT Hold Attorney/Client Funds?
No. All money transfers occur directly between bank accounts held by attorneys, their clients, and Sanlam Multi Data
What/Who is Sanlam Multi Data?
Sanlam Multi Data is a registered Third Party Payment Provider wholly owned by Sanlam
Is CaEFT a bank or payment service provider?
No. CaEFT is a technology platform. It does not hold, receive or pool client funds and is not a bank or registered payment service provider.
Does CaEFT make my firm FICA compliant?
CaEFT provides tools to support compliance workflows, including onboarding, verification and screening. Each law firm remains responsible for its own compliance with the FIC Act and related obligations.
Where is data stored?
Data is stored with redundancy at three separate locations in South Africa.
How long are files retained?
CaEFT supports seven-year post-closure retention settings. Retention periods must be configured and managed by the law firm in accordance with its own legal and regulatory obligations.
Who can access a file?
Access is controlled by role-based permissions. Only users authorised by the firm can access a matter file.
What security measures are used?
CaEFT employs AES-256 encryption, multi-factor authentication, role-based access controls, hardened server configurations, logging, and monitoring. No digital environment can guarantee absolute security.