Njordium AI blocks fake invoices and fraudulent payments

Njordium Cyber Group has launched its new AI Fraud Detection Module, a self-learning AI engine integrated into the recently released Vendor Management System (VMS).

The module instantly detects and neutralises fake invoices, phantom services or products, and inflated pricing. Fully transparent and compliant with the EU AI Act, it delivers a regulator-aligned solution to Europe’s growing invoice fraud problem.

According to the Expert Group on Public Economics (ESO) report Svarta siffror (2026:1), Sweden’s criminal economy generates approximately SEK 352 billion annually, equivalent to 5.5% of GDP, with the shadow economy alone accounting for around SEK 224 billion per year, driven by undeclared labour, tax evasion, and fraudulent commercial activity.

In the European Economic Area, the EBA and ECB reported total payment fraud losses of €4.2 billion in 2024, up 17% year-on-year. Credit transfers, the primary channel for fraudulent invoices, rose 24% to €2.5 billion, with 85% of losses falling directly on victim organisations with little to no route to recovery. Nearly half of all mid-market companies have encountered fake invoice scams in the past year, and nearly seven in ten fail to stop the payment in time.

While fraudsters weaponise AI to craft convincing scams, Njordium’s self-learning engine counters with adaptive intelligence that improves daily through user feedback, something rule-based systems cannot match. Njordium’s new module turns invoice checking into proactive prevention that grows smarter with every interaction.

Building on the Njordium VMS launched earlier this month, the module operates as a tireless forensic auditor. It extracts data from PDFs, OCR scans, Excel files, XML feeds and email attachments, flagging anomalies such as non-existent products, phantom services, or prices deviating sharply from market norms or historical baselines. A dedicated Financial Anomaly Bridge automatically routes high-confidence detections into AML, UBO and PEP workflows, stopping fraudulent payments before funds leave the organisation.

“With the VMS now live, we are delivering a defining moment for enterprise fraud defence,” said Mads Becker Jørgensen, CEO of Njordium Cyber Group. “This self-learning AI module adapts faster than fraudsters evolve, explains every decision in clear language, and delivers ROI measured in millions of euros saved. One platform. Intelligent AI at enterprise scale. Zero tolerance for fake invoices. Fully transparent and compliant with the EU AI Act. Forward-thinking organisations adopting this today will not only protect their bottom line — they will lead the next wave of AI-driven risk intelligence.”

Kim Haverblad, Senior Advisor at Njordium, added: “In an era where AI fuels both attacks and defences, our fully auditable, explainable engine meets the EU AI Act’s demands for transparency, human oversight and risk management — while cutting third-party fraud exposure at its source. Eighty-five percent of credit transfer fraud losses land directly on the defrauded organisation, with no recourse and no recovery. That is the number that should keep a CFO awake. We built a system that stops the payment before that number ever applies to them. This Nordic innovation is designed to attract customers seeking real protection, captivate media with its impact, and excite investors in Europe’s fastest-growing AI innovators.”

Key AI-driven features:

• Intelligent invoice extraction & validation – Processes any document format with continuous self-improvement for high-accuracy fraud screening.
• Self-learning anomaly detection – Real-time monitoring of prices, services, products and spending behaviour; tunable sensitivity with feedback loops that boost precision daily.
• Financial anomaly bridge – Routes invoice irregularities directly into AML, sanctions and financial-crime workflows for preventive blocking.
• Transparent, explainable AI – Every risk score, anomaly flag and decision is fully auditable, exportable and free of black-box models, meeting EU AI Act transparency and logging obligations.
• AI-assisted multi-framework compliance – One vendor assessment simultaneously satisfies NIS2, DORA, CRA, GDPR, ISO 27001 and the EU AI Act with automated, regulator-ready outputs.

By combining the VMS with this AI Fraud Detection Module, Njordium delivers a platform that eliminates invoice fraud losses and future-proofs enterprises for an AI-regulated world, driving efficiency gains, regulatory confidence and measurable competitive advantage.