FI warned about 186 actors involved in financial fraud last year, an increase from 12 actors in 2024. Much of the increase is explained by new routines and processes at the authority, according to Moa Langemark, consumer protection economist at FI.
"It's mainly about us becoming faster and better at reading patterns. We've become better at identifying certain keywords, so if we find one fraudster, we often find more," she says.
“Fosters the criminal economy”
The fraud affects many Swedish households and feeds the criminal economy, according to Langemark. She also sees how many fraudsters return with new guises once they have been exposed and placed on FI's warning list.
Telecom operators have improved at blocking fake phone numbers that make it look like they're calling from a well-known company. But social platforms can do more, according to Langemark.
Among other things, she thinks they should be better at using FI's warning lists and company registers to check who is buying ads on social media.
In previous years, FI has mainly warned about investment fraud, where Swedish households are tricked into false trading in shares, currencies or crypto assets. However, in 2025, loan fraud became the most common type of fraud.
Often affects “very vulnerable”
During the summer and fall, many people were also tricked into so-called “pump-and-dump” scams, where fake financial profiles are used to lure small savers into buying shares to inflate the price. The scammer then dumps the shares when the price has risen.
"It's completely different groups that are being deceived," says Langemark.
Loan fraud often affects "very vulnerable people" who cannot get loans from regular banks and are tricked into paying a fee to get a loan from a fake bank - which is never paid out.
Investment scams, on the other hand, are more often targeted at small savers, who are looking for exciting investment opportunities online or on social media.
The Swedish Financial Supervisory Authority (FI) is a regulatory authority and publishes, among other things, a company register, where you can check whether companies are licensed to offer financial services. FI also produces a warning list, where it presents actors who engage in fraud.
Here are four tips from FI to protect yourself against scammers:
1. Beware of anything that is “too good to be true,” both in terms of loan terms and investment offers. There are no shortcuts.
2. Be critical of sources. Check the company: do not do business with companies that are not in FI's company register, and make sure the company is not on FI's warning list.
3. Take your time. Scammers often use time pressure, stress, and fear to influence logical and rational thinking. There is rarely a rush when it comes to loans and investments.
4. Never share passwords. Never let anyone else into your computer or mobile phone and never give out codes - not even to relatives.
