Former Capitec representative debarred for dishonest financial practices.
A former Capitec Bank financial services representative has failed in her bid to overturn her debarment after the Financial Services Tribunal found that she engaged in inherently dishonest conduct by submitting transactions as debit-order switches when they did not qualify as such.
Palesa Molefe, who joined Capitec in 2016 and was eventually registered as a financial services representative, was debarred by the bank in March 2026 after it found that she no longer met the fit-and-proper requirements of honesty, integrity and good standing required under financial services legislation.
The tribunal dismissed her application for reconsideration after finding that she had failed to effectively challenge the central allegations underlying her debarment.
Molefe joined Capitec as a Client Service Champion in August 2016. She was later promoted and ultimately registered as a financial services representative.
