Under the terms of the agreement, the two organizations will undertake to work even more closely together to detect and prevent online crime.
The number of online offenses, especially online fraud against property, has steadily increased over the last five years. According to the ORFK Communications Service, the police are also receiving a rising number of reports of this type, and the damage caused to victims has now reached several billion forints.
The number of money laundering cases linked to crimes committed online has also increased compared to the previous year, making it a priority to identify those opening bank accounts to launder the money obtained through criminal activity.
According to a representative survey commissioned by CIB Bank and carried out by Magyar Target Pulzus Média Kutató Kft. in March 2024, with the participation of 1,005 respondents, the vast majority of the adult population in the country, 84%, are trying to find out and obtain information on how to avoid being the victim of fraudulent activity, often committed on behalf of banks, over the phone or online.
The study also shows that people consider banks the most trusted source of information after the authorities. CIB Bank, like the police, has launched a series of campaigns and is raising awareness on its website of essential cybersecurity information, such as never allowing others to access your electronic banking devices and being careful when installing applications or remote access programs on your computer or mobile phone.
Effective and efficient action against cybercriminals is a priority for both the police and financial institutions, hence the new agreement, signed by Major General Sándor Töreki, deputy chief of the National Police for Criminal Investigation, on behalf of the ORFK, and by Pál Simák, chairman and CEO, and Tamás Ákos, retail business unit manager, on behalf of CIB Bank.
The parties have already been cooperating in the rapid exchange of information and the immediate transmission of data, which was underlined by the signing of the agreement. A 24-hour on-call system has been set up between the two organizations to ensure an immediate response. This will allow police investigating authorities to request, provide and act on data to mitigate the damage to their clients. It will also enable the two organizations to support each other by knowledge sharing of new crime methods.
“The aim is clear: to take active and effective action to protect assets and prevent crime and to reduce the extent of the damage caused to both the customer and the bank,” Simák said, commenting on the signing of the agreement.
Major General Töreki explained that the 300-strong national network of cyber investigators established in the police in October 2023 is working to reduce such crimes as part of the Matrix Project. And not without success, as he said they “have already dismantled call centers and removed stooges and managers from the criminal system.”
This article was first published in the Budapest Business Journal print issue of January 10, 2025.
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