Digital Fraud Trends in Sub-Saharan Africa: Implications for Global Banking Security

Abstract Book of the 14th International Conference on Opportunities and Challenges in Management, Economics and Accounting

Year: 2026

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Digital Fraud Trends in Sub-Saharan Africa: Implications for Global Banking Security

Samuel Osariemen Erhinmwiorose

ABSTRACT:

Digital banking has transformed financial services across Sub-Saharan Africa (SSA), unlocking unprecedented access and inclusion. Yet, this rapid digitization has also exposed systemic vulnerabilities, making the region a growing epicenter for digital fraud. This paper explores the shifting landscape of cyber-enabled financial crime in SSA and its implications for global banking security. Drawing on regulatory data, industry surveys, and regional case studies, we identify dominant fraud typologies and tactics—including social engineering, AI-driven impersonation, and exploitation of mobile money platforms.

Our analysis reveals that SSA’s expanding digital economy, coupled with fragmented regulatory oversight and limited cybersecurity infrastructure, has created fertile ground for sophisticated fraud networks. These actors increasingly operate across borders, threatening not only local financial stability but also the integrity of international banking systems. The paper argues that mitigating these risks requires a coordinated global response: one that integrates African threat intelligence, strengthens regional cyber capacity, and fosters cross-jurisdictional collaboration. By positioning SSA as both a frontier of innovation and a flashpoint for digital risk, this research contributes to the broader discourse on securing financial ecosystems in emerging markets.

Keywords: Sub-Saharan Africa (SSA)