A new survey from Tietoevry Banking highlights a growing divide in financial fraud trends between Sweden and Norway.
According to the findings, 16% of Swedes reported that they or a family member were victims of fraud or identity theft over the past year. This marks the highest level since the survey began in 2023. Norway, in contrast, saw its rate fall to 12% from a record high the previous year, though experts warn the threat is far from over.
Tietoevry Banking international expert in identity and fraud prevention John Erik Setsaas said, “Despite decline in fraud in Norway, this is far from a solved problem. Our own systems continue to detect large volumes of fraud attempts, and the methods are becoming more sophisticated – with AI now a central tool for criminals. Beyond the personal losses and distress for each victim, these crimes erode trust, and drain resources from banks, companies, and authorities. We must act to ensure that fraud does not pay off.”
The company’s own monitoring data reinforces this warning. In the first half of 2025 alone, Tietoevry Banking and its partner banks blocked fraudulent payments worth NOK 2.3bn to illegitimate merchants, representing a 60% increase compared to the same period in 2024. While fewer people in Norway reported being victims, criminal activity itself remains intense, with many scams prevented before reaching consumers.
Public trust in anti-fraud measures is also deteriorating. The survey shows declining willingness among Swedes and Norwegians to share personal financial data for fraud prevention efforts. Confidence in AI as a protective tool is weakening, even as concerns grow over AI being exploited by criminals. Nearly half of Swedish respondents and over four in ten Norwegians expressed fear that new technologies could heighten their exposure to fraud.
The survey, carried out by YouGov in June 2025, gathered responses from 1,019 people in Sweden and 1,016 in Norway, providing one of the most comprehensive snapshots of fraud trends in the region.
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