The Central Fraud Detection System (KVR) uses artificial intelligence to flag suspicious transactions in a fraction of a second. Banks are required to provide data on their clients' instant payments to the system.

The system is part of measures announced by central bank governor Mihaly Varga in June to crack down on cybercrime.
 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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