Due to the increasing number of fraud cases in the banking sector, the Hungarian National Bank (MNB) is implementing comprehensive measures to combat cybercrime.
Starting July 1, a centralized fraud detection system called KVR will be launched, capable of identifying fraud patterns in real time. The system will be operated by GIRO — the same company that currently provides the technical backbone for domestic banking transactions and is owned by the MNB.
This marks a revolutionary step, as up to now, each bank has tried to detect fraud from its own database, apparently with limited success.
In addition, the MNB is launching targeted investigations to verify whether banks are indeed using real-time filtering systems to prevent abuse. In 2025, the central bank will thoroughly review the entire banking sector. This sends a clear message. From now on, all banks are obliged to proactively protect their customers’ money.