Card fraud increased slightly in Sweden – but decreased in Europe

The American analysis company Fico announces that card fraud increased by 2 percent in Sweden last year. At the same time, they predict that there will be a continued increase in fraud, where the focus is less on technology and more on social manipulation.

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The type of fraud that increased the most in Sweden by as much as 3.5 percent in 2019 was so-called card not present (CNP) fraud. At the same time, e-commerce in Sweden increased by 13 percent, which according to Fico shows that CNP fraud, which is primarily related to e-commerce, has still not increased to the same extent. Throughout the year, SEK 411 million was lost in card fraud, compared with 2018 when SEK 402 million was lost.

Card fraud in Sweden 2019:

  • CNP scams (without physical card) = + 3.5%
  • ID-related card fraud = +/- 0%
  • Counterfeit cards = +/- 0%
  • Lost / stolen cards = -2%
  • Lost / stolen cards by mail = -2%
  • Total change compared to previous year: + 2%

Gareth Williams, fraud expert at Fico, says in a comment that there is an overall reduction in card fraud in Europe in 2019, but that with increased e-commerce, the fraud will be moved to other types. Therefore, it is not time to relax.

Do you want to know more? Detailed statistics on card fraud in Sweden can be found at BRÅ.

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