International Bank for Commerce and Industry of Senegal

International Bank for Commerce and Industry of Senegal, also known by its acronym BICIS, is a banking institution headquartered in Senegal. As its name indicates, the bank focuses on providing commercial and industrial banking services to its clientele. It operates within the Senegalese financial sector, offering typical banking products such as deposit accounts, loans, and payment services to businesses and individuals. The institution serves customers primarily in Senegal, reflecting its domestic headquarters and market focus. The bank’s role in the local economy is to facilitate commerce and industry through financial intermediation.

BICIS is distinguished by its specialization in serving the commerce and industry sectors, a focus reflected in its official name. In April 2025, the bank became the subject of a significant security incident during a system migration, when cybercriminals infiltrated its systems and debited approximately 211 million CFA francs from client accounts. The fraudulent transfers were traced to individuals who allegedly received account details from an employee and passed them to a foreign accomplice, who then directed the conversion of the funds into USDT. Subsequent investigations led to the arrest of several suspects, including the employee and the external actor, and uncovered additional illicit items such as cash and cocaine pellets. The incident resulted in charges related to fraudulent computer access, money laundering, and drug trafficking.