Fresh data from Tietoevry Banking has revealed diverging fraud trends in Sweden and Norway, with concerns growing over AI-powered scams.
The survey found that 16% of Swedes and 12% of Norwegians reported they or a family member had been victims of financial fraud or identity theft in the past year. Fraud levels in Sweden have now reached their highest point since the survey began in 2023, while Norway has seen a drop from last year’s record figures.
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 highlights this contrast. In the first half of 2025 alone, Tietoevry Banking and its partner banks blocked fraudulent payments worth NOK 2.3bn to illegitimate online merchants. This represents a rise of more than 60% compared to the same period in 2024. The figures suggest that while fewer people may be reporting fraud losses, the underlying threat remains high, with many attacks stopped before reaching consumers.
Public trust in anti-fraud measures appears to be weakening. The survey found fewer people in both countries were willing to share personal financial information to help prevent fraud. Confidence in AI as a tool for protection has also declined since last year, while concern about its misuse by criminals has risen sharply. Nearly half of Swedes and over four in ten Norwegians now fear that emerging technologies could increase their exposure to financial fraud.
The survey was conducted by YouGov on behalf of Tietoevry Banking in June 2025, polling 1,019 people in Sweden and 1,016 in Norway.
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