In the ongoing trial of the founder of defunct Beige Bank, the Sixth Defense Witness has provided crucial insights into the banking practices and customer interactions at the bank. The witness, Herod Mensah, a former Branch Chief Executive, shared valuable information regarding customer account debits, complaint procedures, and the movement of funds within the bank.
According to Mr. Mensah, when a customer's account is debited, an automatic debit alert notification is sent to the customer. This not only serves as a confirmation of the transaction but also acts as a prompt for the customer to raise any concerns or complaints regarding unauthorized transactions. He emphasized that it is standard practice for customers to report any anomalies they detect on their bank statements, as banks actively encourage such feedback.
Furthermore, Mr. Mensah highlighted the stringent process of verifying customer instructions in banking operations. He explained that bank accounts are operated by mandates, wherein authorized individuals have the right to issue instructions for transactions. Specimen signatures and photographs of the mandates are required and stored in the bank's system to ensure that any transaction advice received is duly authorized.
In shedding light on the hierarchy of the bank's leadership structure, Mr. Mensah clarified the limited interaction between branch officials and the CEO, emphasizing that customer transactions primarily take place at the branch level. He also detailed the role of various departments within the bank and their respective responsibilities in overseeing branch functions.
The witness's testimony underscored the meticulous procedures followed by the bank to authenticate customer instructions and process transactions. He emphasized the critical role of tellers and Operations Team Leaders in verifying the validity of instructions before making entries in the banking system.
Mr. Mensah's comprehensive account provided valuable insights into the internal workings of the bank, particularly concerning customer interactions, transaction processing, and complaint procedures. His testimony serves to elucidate the intricate processes involved in safeguarding customer funds and ensuring the integrity of banking operations.
As the trial continues, Mr. Mensah's testimony stands as a significant contribution to the court's understanding of the operational protocols and customer safeguards implemented by Beige Bank. His expertise and experience in banking operations have shed light on essential aspects of the case, furthering the pursuit of justice in this complex legal matter.
-source Starrfm | curated by Aisha Yakubu | GhanaCrimes
