KEY POINTS
- The previous Standard Bank manager received debarment after his attempt to send client information through his personal email address.
- Standard Bank’s security system stopped the transfer of client data by detecting the emails before data theft could occur.
- The Financial Services Tribunal maintained the debarment decision because the court judged his unethical conduct as dishonest.
The financial industry completely barred Monehela Lecheko from work after he received an account manager position at Standard Bank Insurance Brokers SBIB and then attempted to transfer private customer information to his private email upon leaving his job.
Lecheko started his career at Standard Bank in 2016 and obtained the account manager position during June 2023.
As a Standard Bank Insurance Brokers employee, Lecheko sent client databases to his private Gmail account during his June 2024 notice period through deceptive email headings.
Through his opening email titled “Kindergarten” he sent two Excel documents which included client information and call records from 2017.
After their security system flagged the email the manager retrieved it and commanded an immediate retrieval of his work laptop. After being detected the initial time Lecheko sent “Baby Formula 2” containing client data through email to no avail.
Tribunal rejects appeal, upholds debarment
Lecheko spent time on garden leave before the bank conducted a Register of Employees Dishonesty System (REDS) enquiry. The tribunal issued its judgment after August 2024 by ruling that Lecheko attempted to steal important client information thus making him guilty of misconduct.
Lecheko appealed his financial industry disbarment through the Financial Services Tribunal (FST).For Lecheko client data should remain his personal property due to the fact he collected it during and before employment. According to Lecheko the list he had compiled included inactive clients whom he planned to contact about non-bank products.
His appeal received rejection from the Financial Services Tribunal because they found his deception proved he planned to misuse confidential information.
According to the tribunal Standard Bank correctly dismissed Lecheko due to his dishonest behavior that made him unfit for financial work.
