Rwanda: National Bank Survey Highlights Cybercrime Risks Amid Digital Growth

• Rwanda's digital finance boom has brought millions into the formal economy but also created new opportunities for fraudsters.
• 84% of digital financial service users received scam messages in the previous year, with 18% suffering actual financial losses.
• The Budapest Convention on Cybercrime provides a framework for international cooperation in investigating cybercrimes.
• Rwanda's law can define the crime but investigators need answers to more difficult questions when the crime crosses borders.

The central question is therefore not whether Rwanda has laws against digital fraud. It does. The more difficult question is whether Rwanda and its international partners can obtain the evidence, trace the money and bring offenders to justice when the crime does not remain within Rwanda's borders.

Rwanda's rapid digital transformation has brought numerous benefits, including increased financial inclusion and improved access to services. However, this growth has also created new opportunities for cybercriminals. A National Bank of Rwanda survey found that 84% of digital financial service users had received scam messages in the previous year, with 18% suffering actual financial losses. These figures highlight a concerning trend: as technologies expand financial inclusion, they also create new avenues for theft. Criminals often impersonate bank employees or claim that transfers were made by mistake to deceive victims. The line between ordinary mobile-money transactions and cybercrime can quickly become blurred.

Despite the challenges posed by cross-border cybercrime, Rwanda has a legal framework in place to address digital fraud. Law No. 60/2018 on Prevention and Punishment of Cyber Crimes specifically criminalises phishing, with penalties including imprisonment and fines. The law also addresses unauthorised access and other computer-related offences. However, the real difficulty lies not in the absence of domestic legislation but rather in obtaining electronic evidence and tracing illicit assets across borders.

The Budapest Convention on Cybercrime provides a crucial framework for international cooperation in investigating cybercrimes. As Rwanda's 78th Party, it has committed to working with other countries to obtain electronic evidence and facilitate the recovery of stolen assets. The Convention's technology-neutral approach has allowed it to remain relevant despite major technological changes. However, its effectiveness depends on the ability of countries to work together effectively in cross-border investigations.

Lawyers and compliance officers should be aware that the Budapest Convention provides a framework for international cooperation in investigating cybercrimes, but its effectiveness depends on the ability of countries to obtain electronic evidence and trace illicit assets across borders.

Source: Original reporting via Briefly