Financial fraud most common among financial crimes

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Financial fraud was the most common financial crime committed in 2014, representing 40.25% of all financial crime cases, according to Hungary's National Tax and Customs Office (NAV). Financial fraud caused HUF 138.81 bln in damages in 2014, amounting to 93.28% of all cases. In 2013, financial fraud accounted for 89.17% of all damages.

The damages caused by financial fraud were higher despite the number of known cases diminishing from 5,395 in 2013 to 4,044 in 2014.

In 2014, the total number of financial crimes fell by 19.2% to 10,048 while total damage caused increased by 22.4% to HUF 148.81 bln.

Excluding financial fraud cases, the fencing of goods and copyright related cases caused the most damages; HUF 3.31 bln and HUF 4.4 bln respectively.

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