overview

Fraud Protection

Fraud-related crime seems to be escalating out of control and in 2023 the number of crimes increased by 21.9% compared to 2022. The Swedish Prime Minister has called on the banks to make them increase efforts to protect their customers, but few concrete proposals have been heard.

Is there a solution in sight? Yes, Freja has several functions that protect against fraudsters.

Fraud Protection

Fraud-related crime seems to be escalating out of control and in 2023 the number of crimes increased by 21.9% compared to 2022. The Swedish Prime Minister has called on the banks to make them increase efforts to protect their customers, but few concrete proposals have been heard.

Is there a solution in sight? Yes, Freja has several functions that protect against fraudsters.

Extra Biometric Verification

When identifying yourself or making an e-signature, the ‘key’ is your mobile device in combination with your Freja PIN code. This PIN can be generated via your mobile’s facial recognition or fingerprint function (biometrics).

But if someone gets control of your mobile and your PIN, they can unfortunately do everything you can with your e-ID. Freja solves this issue with adding an extra layer of biometric verification to regular biometric verification.

When Can the Protection Be Used?

As the name suggests, biometrics are not something you normally use in every transaction – using it for login could be considered overkill. The idea is that the extra verification should be able to be added when higher security is desired for certain sensitive transactions, for example transferring a larger amount of money or ordering a credit card.

Requesting the extra verification randomly once in a while is also an option, even for less sensitive transactions. Where this could be useful is in KYC, regularly getting confirmation that the right user has access to your e-services.

For example, people ‘lend’ their e-ID to gambling accounts so that professional bonus hunters can play on their behalf.

In this way, gambling companies risk their licence by not ensuring that the person using their service is the account holder.

How Does Extra Verification Work?

During the extra verification, the Freja app asks the user to take a selfie which is then compared to the verified image we have from registration. If it is the right person, the transaction goes through, otherwise the transaction is denied.

So this is not the same face recognition that is normally done because it only happens locally in the phone to unlock the PIN code.

How Is this Integrated into My Service?

Extra biometric verification is an additional service that you activate simply by adding the functionality to your agreement. Contact your Freja representative or send an email to sales@frejaeid.se and we will help you get started.

User-Enabled Security Features

Freja also offers several smart security functions that the user controls themselves, but which you as a Relying Party can ask them to use.

Shared Control

A feature where person A designates person B as their co-signer in Freja. Person B must approve the transaction in their Freja app before person A can.

Valuable for example for the elderly who are at risk of becoming victims of convincing phone scammers; should the fraudster also call the son or daughter in order to succeed in the lie, of course the chances are greatly reduced.

Deactivation of E-services

In Freja’s My Pages, you can activate and deactivate which services you want Freja to work for.

If you do not intend to take out a loan in the foreseeable future, you can turn off all loan services and no matter how convincing a fraudster would be to try to get you to identify yourself to a certain service, it would not work, as long as it is deactivated in Freja.

Change of Address Notice

With Freja+, we notify you if someone changes your registered residential address or adds a special postal address. This is a common first step in a scam; you change your address and then order credit cards and gadgets in your name – which end up with the fraudster.

With Freja+, you receive a notification of a change of address directly in the app and via email so you can act immediately to protect yourself.

Contact Us

 

Mikael Emmet Johansson

VP Business Development

mikael.emmet.johansson@frejaeid.se
+46 708-13 21 59

Joel Johansson

Sales Manager

joel.johansson@frejaeid.se
+46 708-83 11 33

Contact us

Mikael Emmet Johansson

VP Business Development

mikael.emmet.johansson@frejaeid.se
+46 708-13 21 59

Joel Johansson

Sales Manager

joel.johansson@frejaeid.se
+46 708-83 11 33