The Swedish Financial Supervisory Authority has added 66 entities to its warning list and says they are not authorised to offer financial services in Sweden. Many present themselves online as providers of AI driven trading or automated investment systems and use promises of quick, outsized returns to attract consumers, but the authority describes the set-up as a straightforward fraud in which deposited money is not returned. Several of the websites claim to use advanced algorithms that can analyse markets and make better investment decisions than humans, and some include calculators showing examples such as SEK 10,000 growing to SEK 20,000 within a few weeks. The authority says these operators often reach people through online ads, sponsored posts, chat groups or unsolicited phone calls, then show fabricated gains on a digital platform after an initial deposit. When customers try to withdraw funds, they may be asked to pay additional fees, taxes or make further deposits. The authority recommends investing only through firms listed in its company register and, where an overseas firm offers services that require authorisation, checking that it is licensed by its home supervisor.
Finansinspektionen2026-06-05
Swedish Financial Supervisory Authority warns against 66 unauthorized providers touting AI driven trading and fast returns
The Swedish Financial Supervisory Authority has added 66 unauthorised entities to its warning list, stating they are not permitted to offer financial services in Sweden and that their operations amount to fraud. The firms typically market AI-driven trading or automated investment systems online, display fabricated gains, and then block withdrawals or demand extra payments when customers try to access funds. The authority advises consumers to invest only via firms in its company register and to verify that any overseas provider is licensed.