Fraudsters are no longer attacking banks, they are attacking the weakest link in the chain, the users. Since payments are made in real time, it has also become difficult to remember transactions. With the help of a centralized abuse filtering system and transaction visibility, it is easier to determine how likely fraud is to occur, he said in his presentation Zsolt Selmici Kovacs, CEO of GIRO. He stressed that they are also trying to introduce new technologies for this purpose, which include the rules-based system used to filter fraud and the use of artificial intelligence. On average, cybercriminals attempt bank transfer fraud every 10 minutes in Hungary. The sector most at risk is families, and unfortunately, many people fall in love with them. In terms of value, banking fraud amounts to 9 billion Hungarian forints per quarter. In the case of transfers, the number of unsuccessful transactions is much higher than successful transactions, and banking systems are able to stop many frauds, but there is not much difference in value. Fraudsters usually take over the account, and there have been examples of a personal loan being obtained this way. Last year, there were 180,000 card misuses in the country, a much higher number than the number of bank transfer frauds, but here the fraud values are lower. Internationally, Hungary shows ratios similar to the European average. In order to improve the above, network analyses, customer group-level analyses, behavioral and iterative studies are performed, which do not replace banking security systems, but complement them. The centralized abuse filtering system will be rolled out in phases, starting from 1 July 2025, all GIROInstant and inter-bank transactions will be included, then from 1 July 2026, all HUF-based transactions, and from 1 July 2027 as well. The CEO emphasized foreign currency based transactions.
