Damages from Financial Fraud in Hungary on the Decline

The value of financial fraud in Hungary is on the decline, but still high, at around HUF 5 billion per quarter, Lajos Bartha, a managing director at the National Bank of Hungary (NBH) said at a conference in Budapest, MTI reports.

The managing director told the Financial Fraud Summit 2026 that the value of fraudulent card transactions and bank transfers had reached HUF 41.9 billion in Hungary in 2024. That fraud cost cardholders about HUF 31.4 billion and businesses HUF 10.0 billion, he added.

Lajos Bartha highlighted the contribution of the KVR central screening system as well as recommendations for banks from the NBH to the crackdown on financial fraud. He added that those recommendations included client education, real-time monitoring, transaction limits and strong customer authentication.

Richárd Szabados, the state secretary for SMEs and technology, said digital intensity among local SMEs was low in a regional comparison and pointed to state- and European Union-supported schemes to advance the digital transition.