It would help a lot if one could get more info on this 'falsify records for financial gain'. This accusation makes me think of attendance records. The fact that it is in a bank makes it sound worse than it probably is, as one immediately think about cash. This person might have, like most employees, neglected to complete his attendance record and completed it at month end in one go. That makes it very easy to unintentionally make a mistake from which he can financially gain. It could also be petty, in that if you were 15 min late and forget to record it, it would be the same accusation. However, I can not see the employer do anything else, but issue a written warning, if the employee does not have a final written warning on record for the same offense.

I dismissed a person once for attendance record fraud and won the case. However, this person stayed away from work and recorded it as such. One day absent only. He then just before month end, changed the register to indicate that he did work that day.

So it is very difficult to take sides without hearing both, no, all three, stories.