Speaking at the European Union’s informal meeting of economic and financial affairs ministers and central bank governors in Dublin, National Bank of Hungary Governor Mihály Varga reported that the Central Fraud Detection System has reviewed almost 390 million transactions. The system, launched with GIRO Zrt. as a central pillar of the central bank’s 2025 Five Strikes measures against cyberfraud, uses artificial intelligence to analyze all domestic instant credit transfers in real time. Varga said artificial intelligence could be central to financial institutions’ competitiveness, while rising cyberfraud requires banking system transformation alongside stronger retail digital channels. He called for greater cooperation among central banks and said financial system safety and competitiveness depend on balancing innovation with regulation, including the European Union’s Payments Package and AI Act.
2026-09-21National Bank of Hungary
National Bank of Hungary governor reports AI fraud system has reviewed almost 390 million instant transfers
National Bank of Hungary Governor Mihály Varga said the AI based Central Fraud Detection System has reviewed almost 390 million domestic instant transfers in real time. Addressing an informal EU ministerial and central bank meeting, he called for stronger international cooperation and a balance between innovation and regulation to support competitiveness and counter cyberfraud.