Forensic Examination of Excess Bank Charges and Unethical Practices

Banking business has nowadays been infiltrated by breach of trust, unethical practices, and a host of unwholesome conducts demanding that organizations should acquire state of the art forensic skills to manage relationships with banks, borne out of experiences of the past which revealed illegal charges, inflation of interest charges against agreed rate, dishonesty, delaying or suppressing cash/cheque lodgments, manipulation of customers’ accounts etc.

Learning Objectives:

At the end of this training session, participants will be able to

• Promptly identify manipulations and unethical practices on the account
• Identify overcharges of interests
• Discover violation of the CBN guidelines
• Promptly demand a refund of all illegal charges from the banks
• Closely monitor bank accounts to forestall any attempt to tamper with balances
• Create regular dialogue with account officers
• Resolve any issue raised against the accounts

Course Contents

Day One

• CBN Guideline Relating to Bank Interest and Fee Charges
• Calculating Overdraft Interest Payments
• Overdrawn Limit and the Implications
• Calculating Loan Interest and Fees.
• Excel Formulae for calculating interests

Day Two

• Charges on Short-term Finance
• Charges on Equipment Lease Rentals and Fees
• Charges on Commercial Papers
• Accounts Having Credit Balances
• Bank Statement and Value Date Order.

Day Three

• Pressing for refunds
• Writing and Reporting Overcharges
• Pressing for Refunds/Recovery.
• Reporting Process to CBN Financial Policy and Regulation Department
• How to avoid straining established banks cordial business relationships
• Appreciation of Financial Cost Savings.