Consumer Protection Report 2026

FI has been tasked with working to ensure that financial firms are responsible for strong consumer protection.1 This includes that financial firms must offer consumers products and services that are cost efficient and are based on the consumers’ needs. It is therefore important for firms to consider that many consumers lack the basic knowledge and skills required to understand financial information and make well-founded decisions related to their personal finances. Firms must therefore demonstrate care for consumers and consider each consumer’s individual circumstances. Financial firms must ensure that their operations are permeated by a high degree of consumer protection, and it is important that they fulfil this responsibility. FI makes the assessment that firms in general are fulfilling this responsibility, but we also note that there is room for improvement.

Based on the four fundamental needs, we have identified several prioritised risks consumers are facing: fraud, financial exclusion, unsound lending practices, and unsuitable savings and insurance products.
One widespread problem that affects several of the fundamental needs is fraud. Many consumers are still falling victim to fraud. Much of the money lost in payment service fraud is the result of fraudsters manipulating consumers into transferring money, often via an account transfer. The fraudsters are still obtaining large sums, but the overall fraud amount has decreased since 2024. This is likely due to increased awareness among consumers and the measures banks have taken such as amount limits and time delays. The number of reported payment service fraud attempts has remained at a high level over the past two years. At the same time, we also see that investment fraud is highly prevalent. One frequent approach during such fraud attempts is that fraudsters contact the consumer by telephone or social media and offer different types of investments, frequently in cryptoassets.

The fraudulent schemes are sophisticated, and the fraudsters are active and constantly find new ways to trick consumers. This can lead to both more fraud attempts and larger fraud amounts over time. FI therefore considers it to be highly relevant that firms continue their work to prevent fraud. In order to combat criminal activities, FI will also use opportunities arising from the increased requirements on the exchange of operational information with other supervisory and crime-fighting authorities.