MNB Director: The value of card and banking fraud decreased in 2025, but remains high

By: Trademagazin Date: 2026. 01. 28. 10:47

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Thanks to the anti-fraud recommendations of the Hungarian National Bank (MNB) and the measures taken by banks, the value of card and bank transfer fraud decreased significantly in the first nine months of 2025, but it still amounts to 5 billion forints per quarter, which is high in absolute terms – said Lajos Bartha, the central bank’s executive director responsible for cash flow, cash logistics and banking operations, at a conference in Budapest on Wednesday.

The presentation at the Financial Fraud Summit 2026 revealed that more than 226 thousand card transactions and bank transfer fraud occurred in Hungary in 2024 In the amount of 41.9 billion forints, of which approximately 10 billion forints were suffered by businesses and 31.4 billion forints by the population.

He emphasized:

The central bank also contributes to the defense by operating the Central Abuse Screening System (KVR), and has also formulated detailed recommendations for banks. These include customer education, real-time monitoring, the application of transaction limits and strong customer authentication.

According to Lajos Bartha, companies must also take an active role in prevention, for which it is essential to prepare employees, use security solutions, and strengthen awareness and education.

He also mentioned that the demand for electronic payments is constantly growing. While about a third of payments were made digitally in 2021, the central bank has set a target of increasing this proportion to two-thirds by 2030.

In 2024, nearly two billion card transactions were carried out, mainly in the systems of the two major international card companies, he said, noting that transfer-based, instant payment solutions, such as Qvik, are becoming increasingly popular. More than 2.3 million Qvik transactions have been carried out so far, with a total value of about 93 billion forints. He believed that a more balanced transfer and card-based financial ecosystem could develop in Hungary in the next 5-10 years.

Richard Szabados, State Secretary for the Development of Small and Medium-Sized Enterprises, Technology and the Defense Industry at the Ministry of National Economy (NGM), emphasized that the digital intensity of Hungarian SMEs is low in both EU and regional comparisons. In order to increase productivity, the government prioritizes digitalization and technological developments.

Among the available tools, he mentioned EU co-financed programs, the DIMOP supporting digital transition and the GINOP Plusz programs serving business development, the Demján Sándor Program, and direct Brussels funds.

From the 2,000 billion forints budget of the Demján Sándor Program, approximately 1,400 billion forints have so far reached nearly 30,000 companies in the form of loans, equity financing or non-refundable grants. This volume can already contribute significantly to economic growth, he added.

The number and total value of financial fraud in Hungary has reached a level that requires daily attention and targeted intervention. The most common abuses are related to inquiries in the name of a bank or the Tax and Customs Administration, impersonation of managers, false account number changes and urgent transfer requests, he said.

“If something is urgent, secret and related to money, it is definitely fake” and should give rise to suspicion, he drew attention to, noting that a significant number of SMEs lack internal regulations and procedural protocols. He believed that risks could be significantly reduced with simple measures, such as two-step approval, telephone verification, conscious use of transaction limits or simply asking for feedback.

Levente Kovács, Secretary General of the Hungarian Banking Association, said: cyber fraud has become a global phenomenon, and preserving the achievements of digitalization is unthinkable without a safely usable cyberspace. He emphasized: cybercrime has become one of the most profitable and globalized “industries” in the world, therefore protecting cyberspace is one of the greatest challenges of our time.