Budapest, 2 October 2025 – “The Hungarian Chamber of Commerce and Industry will also join the Magyar Nemzeti Bank’s ‘five strikes’ series of measures against cyberfraud, which draws companies’ attention to online abuses through a targeted campaign,” announced MNB Governor Mihály Varga, after holding talks with HCII President Elek Nagy. Varga added that the agreement between the Magyar Nemzeti Bank and the Chamber concluded in April will help this partnership generate tangible results in more and more areas.
Governor Varga noted that cyberfraud had a significant impact on the corporate sector: according to the latest data, in the second quarter of 2025 there were 1,129 cases of corporate transfer fraud, amounting to HUF 2.4 billion. He added that, in light of this, the Magyar Nemzeti Bank welcomed the fact that the Chamber wished to participate in preventing cyberfraud and was providing practical advice to corporations. He also recalled that within the framework of the five strikes series of measures, the Bank was taking a five-pronged approach against fraudsters. The Governor went on to explain that “the Central Fraud Detection System (CFDS) has been launched, which uses artificial intelligence to help detect fraudulent activities targeting bank transfers in a fraction of a second. We have stepped up monitoring of whether banks comply with the recommendations against fraud and also launched targeted investigations into the implementation of the fraud prevention measures at individual banks. The Bank is initiating a legislative amendment to protect customers – so that everyone has equal interest in taking the necessary steps – and has also launched an information campaign on the risks of fraud and fraud prevention.”