Last year, 40,000 fraud attempts caused the victims damages of 50,000 forints per minute, he said. More than 90% of Hungarian banks organise cybersecurity training for their employees, Levente Kovács, general secretary of the Hungarian Banking Association, said.

The NBH expects financial institutions to introduce real-time fraud screening systems, block fraudsters’ bank accounts, monitor suspicious transactions, and tighten customer identification and payment procedures, NBH managing director Lajos Bartha said.

The ten participants of the programme include the NBH, the Hungarian Banking Association, the National Police Headquarters (ORFK) and several ministries, as well the National Media and Infocommunications Authority (NMHH), the Hungarian Treasury and the National Cyber Security Centre.

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