HUNGARY today
The first phase of the Central Fraud Detection System (KVR) has been launched, which uses state-of-the-art technology to detect fraud targeting bank transfers in a fraction of a second.
The system was launched early Tuesday morning by the Central Bank of Hungary (MNB) and its subsidiary GIRO Zrt., and uses artificial intelligence to assess the risk of fraud associated with individual transactions. Under the relevant legislation, from July 1, 2025, domestic banks will be required to submit specific data on instant transfers to the Central Fraud Detection System.
