Hungarian National Bank warns of cyber scams targeting State Treasury accounts

The Magyar Nemzeti Bank (MNB) has issued a warning that scammers are increasingly impersonating MNB, police or commercial banks by phone, claiming a security incident on the victim’s account. They aim to obtain confidential login credentials, especially from customers who hold accounts with the Magyar Államkincstár (State Treasury). Once they gain online access, they register their own bank account as the account holder and transfer funds or sell securities, moving the proceeds to their own accounts. The bank stresses that it never asks for passwords, identifiers or codes via telephone, email or SMS and advises anyone receiving such calls to terminate the call and verify through official channels.

In June 2025, MNB governor Varga Mihály announced a legislative amendment requiring payment service providers to bear losses from unauthorized transactions when strong customer authentication – employing two independent factors such as a password plus an SMS, push notification or biometric – is not used. The change is part of a "five‑strike" package to curb cyber fraud. After the reform, reported fraud losses fell from 42.4 billion HUF in 2024 to 28.2 billion HUF in 2025, and the number of incidents also decreased.

Police in Zala county also highlighted the rise of online scams and break‑in thefts, urging residents to keep doors locked and avoid sharing personal data, reinforcing the broader effort to protect citizens from financial and property crimes.