Cheque Clearing Process And Associated Risk & Compliance Management

COURSE CONTENT

Despite advancements in digital payments, cheques are still widely used in Ghana, particularly for large-value transactions. This course equips participants with the knowledge and skills required to handle cheque transactions efficiently while ensuring risk mitigation, regulatory compliance and customer acquisition.

COURSE CONTENT

• Overview of the Bills of Exchange Act, 1961 (Act 55) and other legal instruments regulating cheque use
• Rights and obligations of drawer, drawee, and payee.
• Role of Ghana Interbank Payment and Settlement Systems (GhIPSS) in cheque clearing under Payment Systems & Services Act, 2019 (Act 987), KYC & Fraud, AML Act & Data Protection Act
• Key steps in the cheque clearing process (from deposit to settlement)
• Risk and Compliance Management in Cheque Handling and Clearing (e.g. Stale Cheques, Dud Cheques & Blacklisting of customers).
• Cheques Clearing as a Means of winning new Customers (with Confidentiality Considerations)
• Updated Dud Cheque Directive Requirement

 LEARNING OBJECTIVES

• Learn the operational procedures for handling and processing cheques in compliance with GhIPSS regulations (CCC and ACH).
• Identify the key risks associated with cheque clearing, including fraud and operational errors.
• Gain knowledge of the regulatory framework governing cheque clearing and how to ensure compliance (Payment Systems & Services Act, Data Protection Act, AML Act).
• Learn how Cheques clearing is the means of winning new customers (Customer Acquisition).

 LEARNING OUTCOMES

• Participants will gain a comprehensive understanding of the step-by-step process involved in cheque clearing, from deposit to settlement
• Participants will acquire knowledge of the regulatory and compliance requirements governing cheque clearing processes, including AML laws, KYC policies

Duration: 3 days

Skill Level: Intermediate

Delivery Mode: In-person

Month: September