Social Manipulation, bankernas värsta fiende ? En undersökning av svenska bankers metoder för att hantera finansiellt bedrägeri genom social manipulation

Abstract

Background: Fraud in Sweden has risen sharply over the past decade and criminal profits are constantly increasing. Social engineering is a common method, and these frauds include authorization fraud, romance fraud and investment fraud. Problem: Social engineering fraud has increased significantly and is now one of the fastest growing types of fraud in Sweden. Banks face challenges in maintaining customer trust and must take action to combat fraud. Aim: The purpose of the study is to investigate and analyze how Swedish banks work to counteract financial fraud through social engineering aimed at their private customers. Furthermore, the study aims to investigate the consequences and to discuss possible areas where development may take place in the future. Method: The methodology applied in the study can be divided into three parts: a literature review, an interview study and a document analysis. The interview study was conducted to collect data from respondents, while the document analysis complemented this with a review of existing communications from banks regarding their work against financial fraud. Results and analysis: Findings show a significant change in the area of financial fraud through social engineering in recent years, with different views on which type is most problematic. Banks are using many and varied measures to protect their customers, mainly by focusing on customer awareness and analyzing customer behavior. The study highlights that increased awareness in the community is a positive consequence, while fear and disengagement are negative effects. Future developments in this area are expected to be characterized by technological developments and a greater role for artificial intelligence. Conclusion: The study highlights that banks apply a variety of methods and measures to address financial fraud through social engineering. The efforts to combat these frauds give rise to both positive and negative consequences, which can be analyzed through theories such as Principal-Agent, Moral Hazard, Asymmetric Information, Operational Risks and the Stakeholder Model. The outlook for financial fraud through social engineering is difficult to assess due to constant change and technological development.