Feb 21 • 10:36 UTC 🇸🇪 Sweden Dagens Nyheter

Telephone frauds yield less money for criminals

Despite an increase in reported crimes, criminals in Sweden are earning less from frauds, phone scams, and fake SMS messages.

Despite the rise in reported crimes, including scams, phone frauds, and fake SMS messages, law enforcement and financial institutions in Sweden have observed a decline in the profits amassed by criminals engaging in these activities. This decline has raised questions about whether various societal and institutional measures have contributed to reducing the effectiveness of these criminal enterprises. Suggestions include that the influence of public figures or awareness campaigns might be at play, as well as structural changes within the banking system that have hampered these schemes.

The so-called criminal economy has been a significant topic of discussion recently, particularly following the release of a report titled 'Black Figures' by the Expert Group for Public Economics (ESO). This report highlights growing concerns about the expanding criminal economy while juxtaposing this growth with the recent downturn in profits from telephonic scams. Experts suggest that the increased awareness among the public about these types of fraud, along with proactive measures taken by law enforcement, may have contributed to decreasing returns for perpetrators.

As society grapples with the complexities of organized crime and the efficacy of various countermeasures, the situation remains fluid. Continuous monitoring and improvement in communication and security protocols by banks and law enforcement could further inhibit the financial benefits that criminals receive from these fraudulent activities. Thus, while the number of scams may rise, their profitability is becoming increasingly challenged, suggesting an evolving landscape in criminal economics in Sweden.

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