Here is the rewritten article in markdown format:

Swedish Banking Fraud Statistics Reveal Alarming Rise in Card and Social Engineering Crimes

New figures from the Swedish National Council for Crime Prevention have highlighted a significant surge in banking fraud, with card fraud and social engineering scams emerging as the most common types of crime.

Card Fraud on the Rise

According to preliminary statistics, the number of reported card fraud cases increased by 44% in 2023, following years of decline. The rise in card fraud is attributed largely to scammers stealing card details and using them for online transactions in countries where strong customer authentication is not required.

Banks Taking Measures

Banks have taken measures to combat this type of fraud, including launching initiatives such as Nordea’s delayed withdrawal savings accounts.

Social Engineering Scams on the Rise

Social engineering scams, which typically target the elderly, have also seen a significant increase. In a recent survey by the Swedish Bankers’ Association:

• Over half of respondents reported receiving scam text messages
• About 1% leading to completed frauds

To combat this type of fraud, banks and financial institutions are working together to raise awareness about social engineering and provide guidance on how to protect oneself.

Government Action

The government is also taking steps to address the issue:

• Tasked Finansinspektionen with reviewing payment service providers’ efforts to prevent fraud
• Asked the Swedish Post and Telecom Authority to combat spoofing
• Results of these investigations expected in May 2024

Additionally, the government has convened a meeting with major bank leaders to strengthen cooperation between banks and law enforcement agencies to combat fraud targeting the elderly.

Cash’s Role in Banking Fraud

The use of cash is also believed to play a role in banking fraud, as it can be used to conceal criminal activities. According to the Swedish Police:

• Cash from illegal activities is often taken out of the country to be laundered or reinvested in crime

Despite concerns about the criminal economy, the Riksbank has emphasized that allowing consumers and businesses to continue using cash is important. However, some experts suggest implementing amount limits on cash transactions as a way to make it more difficult for criminals to use cash for illegal activities.

Education and Prevention

As the fight against fraud continues, banks and financial institutions are working to educate customers about the risks of card fraud and social engineering scams, while also taking steps to prevent these types of crimes from occurring in the first place.