{"id":7693,"date":"2026-11-03T13:46:01","date_gmt":"2026-11-03T13:46:01","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/03\/digital-fraud-slows-african-banks-cross-border-expansion\/"},"modified":"2026-11-03T13:46:01","modified_gmt":"2026-11-03T13:46:01","slug":"digital-fraud-slows-african-banks-cross-border-expansion","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/03\/digital-fraud-slows-african-banks-cross-border-expansion\/","title":{"rendered":"Digital fraud slows African banks\u2019 cross-border expansion"},"content":{"rendered":"

A surge in cybercrime across African banks and fintechs is forcing financial institutions to retreat to domestic markets, stalling cross-border integration and leaving continental initiatives like PAPSS and AfCFTA underutilised.<\/em><\/strong><\/p>\n

An escalating wave of digital fraud has emerged as the primary operational deterrent to cross-border financial integration in Africa, with 88% of commercial banks and fintech companies reporting increased electronic financial crimes.<\/p>\n

The finding, detailed in the sixth edition of the African Financial Industry Barometer presented at the Africa Financial Industry Summit (AFIS) in Luanda, highlights a growing security crisis that is prompting lenders to abandon cross-border ambitions in favour of domestic retrenchment.\u00a0<\/p>\n

Published jointly by Deloitte and Jeune Afrique Media Group, the survey gathered responses from financial leaders across 20 African nations.\u00a0<\/p>\n

Although overall industry confidence remained steady at 8 out of 10, matching the previous year\u2019s rating, operational caution has intensified significantly as institutions struggle to secure digital channels against cross-border fraud.<\/p>\n

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