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More Swedes become dollar millionaires

There are more truly wealthy people in Sweden than ever before.

Published: 24 June 2008 16:54 CEST

More Swedes become dollar millionaires

But dark clouds are gathering along the golden-hued horizon as growth in the number of the wealthy slows down.

Last year, the number of dollar millionaires in Sweden rose to a record high 50,000.

The figure increased by 1,700 from the year before, which represents a growth rate of 3.5 percent.

Dollar millionaires include individuals with economic assets equal to at least one million US dollars, excluding one’s private residence.

Nevertheless, Sweden had the lowest growth of dollar millionaires in the Nordic region.

Norway saw the biggest increase, with a 12.9 percent rise resulting in 62,000 dollar millionaires.

The most fat cats can be found in the United States, Japan, and Germany, which is where 53.3 percent of the world’s dollar millionaires live.

Even in the United States, however, growth in the number of dollar millionaires has dropped drastically, down to 4.4 percent compared with 10.3 percent in 2006.

Countries with the highest growth in the number of dollar millionaires include China, Brazil, and Korea.

The collective net worth of the world’s dollar millionaires grew in 2007 to $40.7 trillion, an increase of 9.4 percent.

The study was carried out by CapGemeni and Merrill Lynch for the twelfth year in a row and includes statistics from 71 countries.

How to avoid falling victim to tax scams in Sweden

Anyone who earned more than 22,208 kronor last year received their tax returns digitally last week, marking the start of tax season.

That also means an expected peak in tax-related scams, Skatteverket warns.

Most of the scams are so-called phishing scams, meaning attempts to steal the victims’ personal information. Fraudsters may for example email a person, pretending to represent Skatteverket, and ask them for, among other things, their banking details.

“We’re seeing these in all channels. They use fake emails, SMS, letters and in some cases even phone calls. It is particularly common in tax declaration times – just when we’re about to send out the tax returns, the e-service opens and it’s possible to declare – but above all when it’s time for tax rebates,” Jan Janowski, a Skatteverket expert, told Swedish news agency TT.

A scam email might for example state that you’re entitled to a tax rebate and that you should click a link to receive it. Don’t click any links, open any attachments or reply to the message. Skatteverket advises that you immediately delete the email or text message.

Another common scam is that you receive a text message claiming to be from Skatteverket, telling you that you owe them money and you need to log in to calculate the amount. The website you’re urged to log in via does not belong to Skatteverket. Don’t click the link.

The agency stresses that it never asks people for their banking details. The exception is that you may be asked for your bank account information if you log into Skatteverket’s website to declare your taxes, but that always first requires you to log into the site.

To receive your tax rebate, you need to inform Skatteverket of your bank account number. You do this not by clicking a link in an email or SMS, but by logging into their website using a digital ID, for example BankID, and submitting your details. Only do this on your own initiative. If someone calls you and asks you to log in with your BankID during the phone call, don’t do it. That’s another common scam.

Skatteverket will also never call you to ask for your bank account or credit card number.

It will be possible to declare your taxes from March 19th. You’ll receive any tax rebate you’re owed by mid-April or early June, depending on when you submit your tax return. These are the dates when fraudsters are likely to attempt the most scams.

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