Bank employee fails to overturn debarment for dishonest conduct
A former Capitec Bank representative faces debarment for submitting fraudulent debit-order switches so that she could meet internal targets and contribute towards the bank's team awards incentive scheme.
Former Capitec Bank employee Palesa Molefe has lost her appeal against debarment for dishonest conduct. The Financial Services Tribunal found she submitted transactions as debit-order switches when they did not qualify as such. Molefe was debarred by the bank in March 2026 for failing to meet the fit-and-proper requirements of honesty and integrity.
She joined Capitec in 2016 and was later registered as a financial services representative. Capitec accused her of inflating debit-order switch numbers to meet targets. The misconduct occurred between November 2024 and May 2025. Molefe argued the tribunal should reconsider her debarment, claiming Capitec didn't consider all evidence and procedural requirements.
However, the tribunal dismissed her appeal, stating the misconduct was common and not effectively challenged.
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