Former FNB Manager Barred From Financial Sector After Stealing High Earning Client Data

A former First National Bank (FNB) manager has been permanently barred from the financial sector after improperly transferring confidential client data to his email before resigning to join a competitor.

Christo Wiesner, who had worked at FNB since 2010, resigned in January 2024 to take a position at another financial institution. Before his departure, in August 2023, he had signed the bank’s Confidentiality and Non-Solicitation Agreement and other internal policy documents.

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During his notice period, Wiesner sent two emails from his work account to his personal Gmail account. The first email contained confidential customer details, while the second included a list of high-net-worth clients, their sources of funds, and financial records. Once FNB discovered the breach, Wiesner was suspended, and an investigation ensued.

Following a disciplinary inquiry, Wiesner was found guilty. The chairperson recommended his dismissal, debarment, and registration in the Register of Employees Dishonesty System (REDS).

Before finalizing the debarment, Wiesner was allowed to defend himself, claiming the breach was a “genuine mistake” for which he had immediately apologized. However, his defense was rejected, and he was formally debarred in July 2024.

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Wiesner challenged the decision at the Financial Service Tribunal (FST), seeking to overturn the ruling. However, the tribunal upheld FNB’s decision, ruling that he had violated the Financial Advisory and Intermediary Services Act (FAIS). His claim of an unintentional mistake was deemed inadequate.

“The argument that it was sent in error is similarly unhelpful to the applicant’s (Wiesner) case. Even on the most charitable interpretation of the facts, the tribunal agrees with the respondent (FNB) that the so-called ‘error’ impugns the applicant’s fitness to act as a FAIS representative,” the ruling stated.

The tribunal also concluded that Wiesner’s actions reflected a lack of integrity. “In these circumstances, the tribunal finds no grounds to overturn the respondent’s decision to debar the applicant”.

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