SWEDEN Increase in Fraud YoY

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Slow Growth of CNP Fraud in a Thriving Cashless Society

Ecommerce adoption across the Nordic region, and specifically in Sweden, continues to grow at an impressive rate (13% increase for 2019 in ecommerce spend). When coupled with Sweden’s ‘cashless’ and ‘digital first’ society, it leaves little room for the fraudster to thrive.

Card Not Present (CNP) fraud continues to grow but slower than the ecommerce growth rate. The digitally savvy nature of the core population when online, coupled with the strong prevention control frameworks delivered by platforms such as FICO® Falcon® Platform, make for a hostile environment for fraudsters.

Given the continued ineffectiveness of the fraudsters’ ability to cash out in the plastics channel, we are increasingly seeing a migration into the more ‘low tech’ and ‘human driven’ fraud typologies such as scams, which represent the core threat in region.