A former branch advisor at First National Bank (FNB) has been barred from continuing her career in the financial sector following serious breaches of integrity.

Kgomotso Dikobe was debarred by FNB after she altered a client’s contract without the client’s consent or signature.

As a branch advisor, she was responsible for opening customer bank accounts and concluding relevant agreement with the customers.

As part of her job description, she was required to accurately capture customers’ bank details and ensure that the relevant customer signs the relevant documents once those details have been captured.

Where a branch advisor fails to record these details properly, they are recorded as having a “KYC Fail” (Know Your Client Fail), meaning they have failed to discharge their function. 

In October 2024, Dikobe assisted a customer in concluding a business customer agreement and opening a business account.

After the customer had left, Dikobe’s line manager informed her that she had incorrectly captured the customer’s name on the agreement documents.

Dikobe then amended the customer agreement to rectify the error and called the customer to return and sign the amended agreement documents. However, the customer was at that time not willing to come back and sign the amended agreement. It was already after 5pm.

Thereafter, Dikobe attempted to cut and paste the client’s signature which was previously provided by the customer when signing the documents. However, her line manager told her that what she was doing was prohibited conduct and was grounds for dismissal. She reminded Dikobe that the customer was required to sign the amended agreement herself.

However, Dikobe told the line manager that if she reported this misconduct, people would think she had a personal vendetta against her.

In November 2024, Dikobe attended a disciplinary hearing and did not dispute that she had amended the customer’s agreement without the customer signing for those amendments, however, she disputed that she was guilty of misconduct. However, she admitted that she didn’t want a KYC failure on her record.

She was subsequently dismissed and unsuccessfully appealed the decision.

In December, FNB notified Dikobe of intentions to debar her on grounds that she had altered a customer agreement without the client’s signature, presence, or consent. Her actions violated the bank’s policies, and she had been advised against this conduct but still proceeded.

She was eventually debarred in January 2025.

Unwilling to accept her fate, Dikobe sought recourse through the Financial Services Tribunal (FST), where she attempted to clarify her methods in amending the client contract. She asserted that instead of cutting and pasting, she had created a new document with the corrected information.

FNB opposed Dikobe’s application, asserting that she had been warned that her actions could lead to dismissal. Instead, she attempted to persuade her line manager to cover up the misconduct. FNB contended that this demonstrated her unsuitability to be a financial representative, as she lacked honesty and integrity.

At the tribunal, it was noted that a correct contract is an essential part of the transaction, the consequence of an altered document without authorisation could undermine the transaction should a dispute ever arise between FNB and the customer. Dikobe, however, minimised the seriousness of her actions in changing the contract, failing to understand this critical factor.

“Altering a client’s contract without that client’s consent or knowledge is undeniable dishonest and reflects a blatant disregard for the principles of integrity and good standing expected of a financial services representative,” said the tribunal.

In addition, the FST said Dikobe’s conduct undermines the public’s confidence in the financial services industry and creates a significant risk of harm to clients.

“The respondent’s (FNB) decision to debar the applicant (Dikobe) was, therefore, based on sound legal and regulatory principles…The tribunal finds no grounds to interfere with the respondent’s decision to debar the applicant.,” said the FST.

sinenhlanhla.masilela@iol.co.za

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