How the Dash to Ditch Paper Money Created a Playground for Criminals
Sweden has led the way in Europe in going cashless, but fast and easy digital commerce have left consumers and the state vulnerable to fraud.
Digital crime in Sweden has doubled since 2021 and become a growing risk for the Nordic economy.
Photographer: Mikael Sjoberg/Bloomberg
Ellen Bagley was delighted when she made her first sale on a popular second-hand clothing app, but just a few minutes later, the thrill turned to shock as the 20-year-old from Linköping in Sweden discovered she’d been robbed.
Everything seemed normal when Bagley received a direct message on the platform, which asked her to verify personal details to complete the deal. She clicked the link, which fired up BankID — the ubiquitous digital authorization system used by nearly all Swedish adults.