Suspected digital fraud involving consumers in Rwanda fell from 2.7 per cent in 2024 to 1.6 per cent in 2025, below the global average of 3.8 per cent. The report emphasised that Rwanda’s regulatory and cybercrime framework had contributed to keeping suspected fraud rates comparatively low. It comes amid a broader decline in reported digital fraud cases in Rwanda’s financial services sector. According to the National Bank of Rwanda, the number of cases fell 40 per cent from approximately 5,000 to 3,000 over the previous two years. ALSO READ: Rwanda launches Digital Public Infrastructure strategy to power citizen services, AI Caution TransUnion warned that criminals were increasingly using automated, targeted, and psychologically manipulative methods, including techniques enhanced by artificial intelligence. “Declining fraud rates do not indicate a diminishing threat,” the report said. “Instead, they reflect better detection, improving controls and shifting criminal tactics.” The report particularly pointed to money mules and identity-related scams as a key concern, cautioning that fraudsters are changing tactics, increasingly targeting consumers’ identities and trust before transactions take place. ALSO READ: Digital payment fraud cases fell by more than half last year – BNR Among Rwandan consumers surveyed who said they had lost money through email, online, telephone, or text-message scams during the previous year, the median reported loss was Rwf869,249. The amount was lower than the median losses reported by respondents in Kenya and South Africa, according to the report. Money mule scams were the most commonly reported cause of losses. 29 per cent of Rwandan respondents who had lost money said they had been affected by this type of scam. A money mule is a person who receives or transfers illegally obtained money on behalf of criminals. Some knowingly participate in the schemes, while others are recruited unknowingly through fake employment opportunities, romantic relationships, investment offers, or other forms of social engineering. Account takeovers were cited by 24 per cent of respondents who lost money, while social engineering and stolen credit card or fraudulent charge schemes were each reported by 22 per cent. Other reported forms of fraud included third-party seller scams on legitimate e-commerce platforms, identity theft, smishing, phishing, and fraudulent telephone calls, commonly known as vishing. “Money mules often are the bridge between consumer fraud and broader financial crime,” said Amritha Reddy, TransUnion Africa’s Senior Director of Fraud Product Management. She said people recruited through social engineering could enable criminals to move stolen funds while avoiding detection, allowing what initially appears to be an isolated consumer scam to develop into a wider financial crime risk. Where fraud happens The report points to a shift in when suspected fraud is most likely to occur. In Rwanda, the highest suspected digital fraud rate across the consumer lifecycle was recorded during account creation, at 7.7 per cent. This was followed by account login at 1.6 per cent and financial transactions at 0.5 per cent. ALSO READ: Rwanda cuts digital fraud, but systemic risks still linger TransUnion said the figures suggest that criminals are increasingly attempting to enter digital systems using false, stolen, or manipulated identities rather than waiting to attack completed transactions. Reddy explained that once a compromised identity has passed through the onboarding process, detecting and preventing subsequent fraudulent activity becomes more difficult and costly. The trend places greater pressure on businesses to strengthen identity verification, electronic Know Your Customer procedures, and monitoring during account registration. The report underlined that Rwanda’s continuing investment in Digital Public Infrastructure, including the implementation of the digital identification number, could support these efforts. Retail records the highest sectoral risk According to the report, retail transactions involving consumers in Rwanda recorded the highest suspected digital fraud rate in 2025, at 7.1 per cent. Online communities, including dating sites and forums, followed with a rate of 2.1 per cent, while gaming platforms recorded 1.7 per cent. The vulnerability of retail comes as more Rwandans use online marketplaces and other digitally enabled purchasing platforms, where consumers and sellers often establish relationships without meeting physically. Although retail recorded the highest rate among the sectors analysed, data showed that the volume of suspected fraudulent attempts in the sector fell by 97 per cent between 2024 and 2025. Suspected attempt volumes declined by 46 per cent in online communities and 41 per cent in gaming.
