Financial Crime World

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Emphasizing Collaboration in Addressing Cybersecurity Threats

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The recent conference highlighted the importance of collaboration in addressing cybersecurity threats. Speakers from various organizations emphasized their efforts to enhance cybersecurity and protect consumers.

Key Takeaways


  • Cyber Shield’s Contributions:
    • Focus on preventing caller ID spoofing
    • Development of new regulatory frameworks These efforts have significantly strengthened Hungary’s cybersecurity environment.
  • Financial Abuses:
    • Phishing attacks are a growing concern in the Hungarian banking and payment system
    • 72% of financial abuses now attributed to these types of scams
  • Cyber Shield’s Customer Education Program:
    • Essential for protecting consumers
    • Website visited by over 171,000 people since its renewal in April
  • The Central Abuse Monitoring System:
    • Being developed by the National Bank of Hungary
    • Will help banks prevent abuses on interbank networks
  • The Matrix Project:
    • Initiated by the National Police
    • Aims to coordinate and uncover online crimes
    • Early results show arrests and charges made
  • Regulatory Activities:
    • Establishing rules and practices for fraud prevention and management
    • Focus on protecting consumers and restoring trust in financial services