Financial Crime World

Burkina Faso: CBLCC Boosted to Combat Rising Cybercrime Threats in Finance Industry

The Central Brigade for Combating Cybercrime (CBLCC) in Burkina Faso has received a significant boost in its efforts to combat the growing menace of cybercrime in the country’s finance industry. This comes as a result of the agency being equipped with cutting-edge equipment and software to establish a digital investigation laboratory, marking the launch of an awareness campaign targeting actors in the fight against cybercrime.

The Growing Threat of Cybercrime

According to Wolfram Vetter, Head of Delegation of the European Union, cybercrime has surged in the sub-region since the outbreak of the Covid-19 pandemic. “Cybercriminals have adapted to changing drivers of illicit trade, exposing vulnerable populations to the danger of exploitation and honing their techniques as global commerce inexorably shifts to the World Wide Web,” Vetter warned.

European Union’s Response

In a bid to provide a comprehensive response to cybersecurity threats in West Africa, the European Union has partnered with ECOWAS to establish the Organized Crime-West African Response on Cybersecurity and fight against cybercrime (OCWAR-C). The initiative aims to:

  • Enhance sub-regional cooperation
  • Strengthen the capacity of local authorities to combat cybercrime

Launch of OCWAR-C

The launch of OCWAR-C comes at a critical time, as the finance industry in Burkina Faso faces an increasing threat from sophisticated cybercriminals. The country’s financial institutions are urged to:

  • Remain vigilant
  • Take proactive measures to protect themselves against the growing menace of cybercrime

Conclusion

In conclusion, the boost received by CBLCC is a significant step towards combating the rising threat of cybercrime in Burkina Faso’s finance industry. With the launch of OCWAR-C, the country can now count on enhanced sub-regional cooperation and strengthened capacity to combat cybercrime. It is essential for financial institutions to remain proactive in protecting themselves against this growing menace.