A former National Australia Bank financial adviser has been banned from the financial services industry for allegedly creating false bank accounts in the name of clients and attempting to steal their funds.

The corporate watchdog alleges Max Kiattisak Eung used falsified documents to create two false bank accounts in the names of clients, caused withdrawals to be made from client funds to those accounts, and impersonated his clients to attempt to access the funds in one of the accounts.

The alleged wrongdoing occurred between March and December in 2016, when Mr Eung, from the Sydney suburb of Tempe, was an authorised representative and financial adviser with NAB.

He left NAB at the end of 2016, before incorporating a mortgage broking business in 2017 and working as a credit representative between September and October that year.

ASIC found Mr Eung had engaged in dishonest conduct, was likely to contravene financial services law and was not of good character, and has banned him permanently from the industry.