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Avoiding “phishing” also in Hungary

Retail

2.2 million Hungarians use different types of electronic means for bank transactions, such as bank cards, online or mobile banking. Any of them may be subjected to phishing, said Péter Papp, co-chair of the Scientific Association for Organization and Leadership (SzVT).

The number of regular users of online banking alone is over 1.3 million, so data protection has to become more efficient than before, as criminals will probably invest more and more energy into conning clients into revealing their personal data, Papp said.

The damage caused by online crime was estimated at an annual $105 billion, while Ft 650 billion damage was caused only in the UK last year through password theft from clients of banks. The same figure for Hungary is Ft 200 million for 2006. Safety regulations for banks are moderately strict, but online stores are not obliged to protect information in any way, Papp noted.

It is important to follow European standards, because in some instances it proves cheaper for a bank to compensate their clients for occasional damages than to adapt a tighter security system. Clients can also help increase security of their personal data through more secure passwords, and prudent use of personal computers. (Gazdasági Rádió)

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