Financial Crime World

Hungary’s National Protection Service Unveils Sweeping Surveillance Program

Comprehensive Data Collection for Money Laundering and Terrorism Financing Detection

Budapest, Hungary - The Hungarian National Protection Service (NPS) has launched a groundbreaking surveillance program to combat money laundering and terrorism financing. Dubbed H ARO, this initiative aims to gather and analyze vast amounts of data from various sources to identify and monitor individuals and entities involved in financial crimes.

Data Collection Sources

The program will collect information from:

  • Electronic police databases: Netzsaru and Robotzsaru
  • Central real estate register
  • Domestic and international registers for legal entities
  • Personal and vehicle data registered in the personal register
  • Credit institutions
  • Financial service providers
  • National Tax and Customs Administration (NAV)
  • Other organizations

Analyzing Data for Money Laundering and Terrorism Financing Detection

H ARO will analyze data from various sources, including:

  • Open-source intelligence (OSINT)
  • Registry of firearms in specific criminal cases
  • Credit institution and financial service provider data:
    • Bank accounts
    • Security accounts
    • Foreign currency accounts
    • Savings accounts
    • Investment accounts
    • Safe deposit boxes
  • Incise tax payments
  • Social insurance numbers
  • Financial intelligence unit databases related to money laundering and terrorism financing

Methodology and Reports

The program’s methodology is designed to create a comprehensive financial profile of individuals and entities, which can be used in both parallel financial investigations and criminal proceedings. The detailed report generated by H ARO may even substitute official forensic analysis or serve as the basis for a revisers’ report.

Commitment to Combating Money Laundering and Terrorism Financing

The NPS emphasizes its commitment to combating money laundering and terrorism financing, citing the EU’s 2015/849 directive as the legal framework for its efforts. Hungary is required to identify, examine, and understand the risks of money laundering and terrorist financing, which includes identifying phantom firms and risks related to offshore companies.

Expected Outcomes

The program is expected to enhance Hungary’s ability to detect and prevent financial crimes, while also strengthening its cooperation with international partners in the fight against terrorism and organized crime.