A former Capitec Bank consultant lost his bid to overturn his debarment after finding that he misrepresented debit orders.
The Financial Services Tribunal has dismissed the appeal of Vusumuzi Mtshali, a former consultant at Capitec Bank, who sought to reverse his debarment.
The tribunal found that Mtshali was involved in a scheme that misrepresented debit-order switches, which seriously compromised the bank's performance-monitoring processes.
Consequently, it concluded that he no longer met the crucial standards of honesty and integrity expected of a financial services representative.
The case originated from conduct at Capitec’s Orange Farm Palm Springs Mall branch, where Mtshali worked as a service consultant.
