IDV Required in Ontario by January 1, 2024
The legal landscape, like many other sectors, has faced unprecedented challenges due to the impact of the COVID-19 pandemic. In response to these challenges, the Law Society of Ontario swiftly implemented a temporary provision allowing for virtual verification without authentication as an emergency measure. However, it's crucial to be aware that this stop gap solution is set to expire on January 1, 2024.
As the deadline looms, law firms must gear up to comply with these regulations in the coming year. Navigating this evolving legal landscape can be a daunting task, but at LCS, we got you covered.
Our partnership with Treefort Technologies is a testament to our commitment to providing comprehensive solutions. Treefort, an approved technology by the Digital Identity Authentication Council of Canada (DIACC), which the Law Society of Ontario has referenced lawyers should refer to for Identity verification technology. Treefort integrates advanced technology with data from a vast network of trusted sources to verify your client's identity effectively and fulfill your professional Know Your Customer (KYC) requirements, all while combating identity fraud.
LCS and Treefort: Your Best Solution
Getting started with Treefort in LCS is a breeze. You can simply initiate an IDV session in any of your files at any time, with no set up required!
Our commitment to ensuring a user-friendly experience aligns with one of our core company values: making the transition process from other conveyancing software products to LCS as seamless as possible. We naturally extend this principle to getting started with identification verification, allowing you to effortlessly meet the new requirements.
The synergy between LCS and Treefort is designed to be your best solution in the ever-evolving landscape of law and conveyancing. We understand that legal professionals require not only user-friendly tools but also powerful solutions that meet the rigorous demands of the industry. WithLCS and Treefort, you can navigate the complexities of IDV with confidence, ensuring compliance with regulations and elevating the efficiency of your legal practice to new heights. See below to learn how to use Treefort in only five easy steps.
How will IDV Work in LCS?
Use Treefort in five easy steps:
1. Initiate ID Verification: Directly send IDV requests to clients via email or text right from LCS, and conveniently track the status of each request within your LCS account.
2. Client Fulfilment of IDV: Your clients will receiveIDV requests whether via email or text, they will input the required details securely on the Treefort portal, and then Treefort verifies information using trusted sources.
3. Authenticate Your Clients: You will acquire Treefort-validated identity verification alongside comprehensive risk analysis report for every client. Government-issued ID copies, once verified, are securely stored within LCS files, making them accessible to you for sharing with lenders through either LLC or LCS-generated forms.
4. Recover IDV Fees: Once an IDV report is successfully generated for a client, you will be notified automatically and the $25 Treefort fee can be imported to your Statement of Account or Trust Ledger, depending on your preferences.
5. Reports Management and Sharing: You will get notified automatically when your reports are complete, and you may easily retrieve past IDV reports from your files to save yourself from needing to pay again. Though we recommend ordering a new IDV report periodically to mitigate fraud risk. Additionally, you can view and download reports for your firm's internal records and share copies with other parties, such as title insurance providers, effortlessly.
Learn more about LCS
This article was brought to you by a member of the LCS- Lawyer Conveyance System team. We are committed to leading the way in the conveyancing space so if you are a lawyer or law clerk, we encourage you click here to book a demo and learn why our platform is right for you! See below for more useful articles.
