HUNGARY Increase in Fraud YoY
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A Hotspot for CNP Fraud In EuropeHungary has been forced to urgently review its fraud prevention frameworks and adapt quickly, to answer the ever-increasing threat of Card Not Present (CNP) fraud and its escalating migration into the country. CNP initially migrated in 2015 with fraudsters enjoying early success in cashing out against a fairly rudimentary set of fraud controls. This early success has gathered significant momentum, with Hungary reporting some of the largest percentage increases for the past three years. The local entities are now embarking on a very focused transformation, to emulate the other regions across Europe and stem the tide of this CNP threat within their borders.