Current status of electronic identification

In Finland, using a bank identifier as a strong identification method is unusually common, with approximately 90% of all identifications performed using a bank identifier. In addition to banks, they are used to log in to insurance companies and government services, such as Kela, the Tax Administration, and MyKanta.

Cybercriminals are interested in money, which is why they are after your bank identifiers. Cyberattacks and malware cause significant financial damage to organizations and private citizens alike. There are constant phishing campaigns related to different government services aimed at stealing bank identifiers or hijacking login events where the criminals simultaneously log into the online bank to steal the victim’s assets.

Banks are constantly warning their customers about various attempted scam campaigns, and there are weekly news reports regarding cybercrime. According to Finance Finland’s statistics, Finns were scammed for nearly EUR 77 million in 2023 based on the cases known to banks alone.

In Sweden, there has been a strong surge in online scams and digital crimes, which have doubled since 2021. In the authorities’ estimate, the criminal economy in Sweden may make up to 2.5% of the country’s GDP. Even though gang violence and organized crime are highlighted in the public, financial crime is behind gang crime. The common use of bank identifiers is estimated to partially contribute to the vulnerability of Sweden.

That is why you should only use your bank identifier for logging into your bank. For everything else, it is better to use other means of identification.