A former Standard Bank employee has been permanently banned from working in the financial sector after investigators discovered he used his own money to activate clients' accounts to meet monthly sales targets.
Curtis Arthus Abrahams, who sold MyMo accounts as part of his job, was found to have breached strict banking rules by depositing funds from his personal account into new client accounts to meet activation requirements.
The MyMo account system requires customers to activate their accounts with a mandatory deposit. However, internal emails sent in September 2020 explicitly stated that bank representatives were prohibited from using their own funds for this purpose. Despite being aware of this rule, Abrahams ignored the policy in an attempt to hit his targets, as reported by Joburg etc .