The Effect of the KiberPajzs Initiative on Fraud Detected in Electronic Payments in Hungary
The Effect of the KiberPajzs Initiative on Fraud Detected in Electronic Payments in Hungary

Author(s): Gabriella BIRÓ
Subject(s): Security and defense, ICT Information and Communications Technologies
Published by: Asociatia Romana pentru Asigurarea Securitatii Informatiei
Keywords: cybercrime; electronic payments; financial education; fraud prevention; payment fraud
Summary/Abstract: The paper examines what effect the KiberPajzs initiative has on fraud detected in electronic payments in Hungary for the 2023-2024 period. First the current electronic payment fraud landscape of Hungary is described through cybercrime tendencies, the impact of digitalization on banking, and the regulatory background of electronic payments. Then the KiberPajzs initiative is introduced together with its related communicational, regulatory and law enforcement projects. Finally, the recent quarterly payment fraud data published by the Central Bank of Hungary is examined and the effects of KiberPajzs are evaluated. The author argues that the decrease in the number and value of fraudulent electronic transactions and the increase in identified failed fraud attempts coincide with the activities of the KiberPajzs initiative.

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