Fresh figures from Tietoevry Banking reveal diverging fraud trends in the Nordics

A new survey conducted on behalf of Tietoevry Banking shows that 16 percent of Swedes and 12 percent of Norwegians report that they or a family member have been victims of financial fraud or identity theft in the past year. Sweden continues to see a steady rise in fraud exposure, now at its highest level since the survey began in 2023, while Norway shows a decline from last year’s record-high figures.

“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,” says John Erik Setsaas, international expert in identity and fraud prevention at Tietoevry Banking.

Tietoevry Banking’s own monitoring illustrates this paradox. In the first half of 2025 alone, the company, together with its partner banks, blocked fraudulent payments worth NOK 2.3 billion to illegitimate online merchants – an increase of more than 60 percent compared to the same period in 2024. This shows that even if fewer people report having been defrauded, the underlying activity from criminal actors remains intense, with many attempts stopped before they impact consumers.

The survey also shows that public trust in preventive measures is weakening. In both Sweden and Norway, fewer people are now willing to share personal financial information to fight fraud, and trust in AI as a protective tool has fallen compared to last year. At the same time, concern about AI being misused by criminals has grown significantly, with nearly half of Swedes and more than four in ten Norwegians now expressing worry that new technologies will increase their risk of being exposed.

The survey was conducted by YouGov on behalf of Tietoevry Banking in June 2025 with responses from 1,019 people in Sweden and 1,016 in Norway.

Download the full report here: https://www.tietoevry.com/en/campaigns/2025/financial-fraud-report-2025/

About Tietoevry Banking 
Tietoevry Banking is the market-leading provider of financial SaaS solutions for the Nordics and beyond. With 3,400 dedicated experts and customers in 60 countries, we deliver solutions for payments and card value chains, financial fraud prevention, lending, and wealth management, as well as a banking-as-a-platform. By combining decades of experience with our modular, scalable, and secure solutions, we empower financial institutions to unlock significant value, and rapidly adapt to market changes, meet regulatory demands, and deliver exceptional customer experiences. Tietoevry Banking is a specialized business unit of Tietoevry. Read more: www.tietoevry.com/banking