The Briefing
- Criminals stole €72.5 million from Finnish residents in 2025.
- Banks successfully blocked over half of all attempted thefts.
- “Safe account” transfers are always a scam.
Criminals attempted to siphon a staggering €148 million from Finnish bank accounts in 2025, succeeding in stealing nearly half that amount despite aggressive banking countermeasures, according to Finanssiala ry.
The total amount lost to criminals rose to €72.5 million, up from €62.9 million the previous year. Banks managed to prevent or recover €75.5 million, meaning over half of the attempted thefts were stopped.
However, Finanssiala ry warns that the remaining losses are still at a chilling level.
The Rise of the “Safe Account” Lie
A major driver of these losses is a specific type of fraud known as “safe account” scams. In 2025, victims lost €38.4 million to this method alone.
In these cases, criminals call victims pretending to be bank officials or police. They claim a suspicious transaction is occurring and manipulate the victim into moving their money to a so-called “security account” or “safe account” to protect it.
Niko Saxholm, Director of Crime Prevention at Finanssiala ry, is clear about this threat. He states that safe accounts do not exist and never have. If a caller mentions a “turvatili” (security account), they are a scammer. Banks can secure funds without asking customers to transfer money.
AI: A Double-Edged Sword
The sharp rise in successful scams is partly due to artificial intelligence. In the past, bad grammar or awkward phrasing often gave away scammers. Today, AI allows criminals to generate flawless Finnish messages and create mass fake profiles that look authentic.
“Technology is both a friend and an enemy in fighting fraud,” says Saxholm. While AI helps criminals create credible lies, it also helps banks detect suspicious patterns faster than human eyes ever could.
AI allows criminals to generate flawless Finnish messages and create mass fake profiles that look authentic.
Phishing Remains the Biggest Threat
Phishing attacks, where criminals try to steal banking codes or card details, remained the most common form of fraud. Criminals attempted to steal €53.1 million through phishing in 2025.
Fortunately, banks have improved their defenses against this specific type of crime. For the first time, data shows a “prevention rate” of 76% for phishing attempts. Out of 17,000 targeted individuals, banks saved the money of 13,000 victims.
Finland is consistently ranked as one of the most digitalized societies in the European Union. Because the population relies almost entirely on digital banking and electronic identification for daily services, it is an attractive target for international cybercriminals.
Since real-time payment systems are so fast in Finland, once a victim approves a transfer, the money is often gone instantly, making recovery difficult.
