Why going cashless has turned Sweden into a high-crime nation

Sweden's shift to cashless payments has made it a growing target for financial crime, according to reporting that links the country's digital systems to rising fraud and organized crime. Online fraud and digital crime took 1.2 billion kronor in 2023, double the 2021 figure, and law-enforcement agencies estimate the criminal economy could reach 2.5% of GDP. Economic crime prosecutor Daniel Larson says fraudsters use fake companies and forged documents to exploit the welfare system, and that this profit fuels gang violence. BankID, the digital authorization system used by nearly all Swedish adults, is cited as a factor, and banks are introducing optional extra security measures.