Question: What are the Guard against repetition of lapses/irregularities in account opening and maintenance in Bank?
Answer:
I. An account shall be opened only after it is approved by the Branch-Incharge or by his deputy (assigned with the supervision of General Banking Department).
II. Photograph of the A/C holder must be signed by the A/C holder, attested by the Introducer on the back of the photograph and signature of the Introducer be verified by an Authorised Officer.
III. Branch shall prepare a Check-List immediately after opening an Account to ensure all necessary documentations are not left out from the AOF. If there is any pending Identification/ Reference requirement and/or Documentation requirement, ‘Flagging’ posting must be done in the Computer restricting any withdrawal from the Account till full regularisation.
IV. The Deposit In-charge/Manager Operation/Branch Manager shall monitor the print-out of ‘Computer Deposit Account Listing’ at least once in a weak and if any A/c is found running Nil Balance for a period of over 3(three) month, the same shall be closed giving 1(one) month’s prior notice to the Account Holder concerned. In this regard Branch also request the A/C holder to return unused cheque leaves.
V. The Deposit In-charge and the Branch Manager shall monitor the mode of transactions made in the A/Cs for tracing out of Suspicious Transactions.
VI. Branch should be particular in sending Account Statements/Balance Confirmation Certificate irrespective of all CD/SB/STD Account Holders on regular basis with proper recording in the Despatch Register as per stipulations made in our Instruction Circulars No.32 dated 04.06.1998 and No.62 dated 19.12.1999 except against declaration of those Holders who do not want to have it. Branch should not discontinue or be irregular in sending Statement of Accounts/Balance Confirmation Certificate. Under any circumstances any return of the same needs proper investigation.
VII. Addresses recorded on the AOF must be verified by sending Welcome Letter to the Account Holder and Letter of Thanks to the Introducer. In sending of the above Letters, Branch must not compromise. If returned undelivered, the cause of any return of such Letters must be ascertained and the Branch must take appropriate action. Physical verification of addresses is randomly needed as and when required.
VIII. One of the key principles of the Branch Officials should be, ”Know your Customer”. They should make reasonable efforts to determine their Customers’ genuine identity, have effective procedures for verifying the bonafides of new Customers’ and establish the intended nature of the conduct of Accounts.
IX. The Accounts associated with irregularities/lapses as pointed out by Audit & Inspection Division or Bangladesh Bank Inspection Team should be flagged in the computer till regulagisation for precaution.
X. Branch should conduct on-the-job training to train their Officers to be made aware of their responsibilities and must be familiar with the rules and procedures related to Account Opening and Maintenance covering the broad spectrum of General Banking which will be ultimately helpful to guard against fraud and forgery.
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