BANKING FRAUD AND DIGITAL SCAMS AS OBSTACLES TO BRICS DEVELOPMENT: CIVIL LAW ANALYSIS OF LEGAL SECURITY IN CROSS-BORDER TRANSACTIONS

Abstract

This article analyzes the impact of banking fraud and digital scams on the economic development of BRICS countries (Brazil, Russia, India, China, and South Africa) from a civil law perspective of civil liability and legal security in cross-border transactions. The research examines how systemic legal insecurity arising from these illicit acts affects contractual confidence and investment flows between bloc countries. Using qualitative methodology and documentary analysis, the study investigates emergency regulatory measures adopted by Brazil's Central Bank in September 2025 as a paradigmatic example of digital insecurity's economic costs. The work proposes innovative solutions, including the creation of a BRICS Digital Passport, specialized Digital Courts, and a Reputation Blockchain system for legal harmonization and economic cooperation strengthening. Results demonstrate that normative fragmentation among BRICS legal systems generates costs exceeding 180 billion dollars annually in lost transactions, reducing joint GDP by up to 2.3% per year. The conclusion is that implementing a common legal framework for digital transactions is essential for the bloc's sustainable development and global competitiveness.