26-year-old Manjeet Singh who has been convicted of three counts of money laundering has been sentenced to 9 years imprisonment.
Suva Magistrate Shageeth Somaratne has given a non-parole period of 7 years.
Singh obtained money from two local banks through internet banking between July and December, 2013 where he obtained more than $24,000 over three occasions.
Magistrate Somaratne said that the public deposit their hard earned money in the financial institutions hoping that it would be safe.
He said that it would be devastating for them to find that their savings have been withdrawn by criminals.
The Magistrate also stressed that even though the banks would normally take action quickly to limit the impact to customers, the reputation to their business would be suffered significantly.
He highlighted that Fiji is becoming a regional hub in finance, and financial institutions need to be protected to attract the investment and to sustain development.
