HUNGARY Decrease in Fraud YoY
Another Strong Reduction in CNP Fraud
Hungary has achieved the third best reduction in fraud loss for the 2020 period, falling behind Denmark and the UK. Whilst this only equates to €2M, Hungary are one of only 5 countries of the 18 included in the report to post a reduction in 2020.
Hungary continues to see a Card Not Present (CNP) fraud migration and an escalating use of the channel, driven by the pandemic. However, the largest entities in region have been able to control that migration via the use of consortium data based analytics and the best-in-class FICO® Falcon® Platform .