A recent study by Mastercard has revealed that cybersecurity knowledge among the most digitally adept age group in Hungary barely exceeds 1.5 on a four-point scale. The findings were shared with participants of Hungary’s KiberPajzs initiative and will later be presented to industry stakeholders. These headline results were made public at a press conference held on February 20.
In light of the alarming rise in cybercrime, experts emphasize the need for a coordinated effort, collaboration, and continuous knowledge sharing to effectively combat these threats. KiberPajzs, which provides a structured framework for such efforts, has announced its intention to incorporate the study’s conclusions into its initiatives.
Cybercrime in Hungary in 2024 resulted in 13,000 victims and HUF 30 billion in financial damages. Online marketplaces have become particularly vulnerable, with 43% of users encountering fraudulent attempts and 20% reporting financial or data losses. Nearly half of the Hungarian population (48%) has either personally experienced a cyberattack or knows someone affected by one.
Despite these statistics, only 22% of individuals in Hungary consider themselves adequately prepared to counter cyber threats. The public sector remains the most targeted, though threats in the healthcare sector have decreased since the onset of the pandemic. The technology sector, on the other hand, has become an increasingly attractive target for cybercriminals.
A recent survey by Mastercard found that 70% of Hungarian adults are aware that banks would never request card details or login credentials via phone or email. However, fraudsters successfully deceived victims into transferring sums exceeding HUF 10 million in several cases last year. This highlights a significant challenge in cybersecurity: individuals caught off guard are often the weakest link in the chain.
Partnering with Mastercard, KiberPajzs aims to analyze user security awareness and cybercriminal strategies. By identifying risks and strengthening digital defenses, the study seeks to provide individuals and organizations with a better understanding of cybercrime trends and stress the importance of intelligence sharing in battling cyber threats.
Gergely Márkus, the country manager for Mastercard Hungary and Slovenia, describes the Cybercrime Age 2025 study as a valuable resource that offers insights into the evolving cyber threat landscape. He believes that collaborative efforts are essential to enhance security, with the KiberPajzs initiative playing a crucial role in strengthening cybersecurity.
The study also provides an international perspective, estimating that global cybercrime damages could have reached USD 9.5 trillion by the end of 2024. In Hungary, a notable finding is the gap between theoretical cybersecurity knowledge and actual digital behavior among respondents.
46% of respondents were unable to determine whether messages in the survey were legitimate or fraudulent. Younger individuals tend to overestimate their ability to recognize scams, with 90.5% of 18-29-year-olds considering themselves difficult to deceive. However, when tested on cybersecurity knowledge, their average score was only 1.5 out of 4.
Cybercriminals continually refine their techniques, utilizing cutting-edge technology and collaboration to maximize their illicit gains. The evolving nature of cybercrime necessitates real-time access to security information and effective defense strategies that integrate cybersecurity habits and up-to-date intelligence sharing.
The KiberPajzs initiative, spearheaded by the Hungarian Banking Association and the Hungarian National Bank, brings together various stakeholders to promote collaboration in combating cybercrime. Security professionals and decision-makers within the digital payments ecosystem are urged to use the study as a starting point for strengthening security.
Collaboration among different entities, including government agencies, IT, telecommunications, retail, and financial service providers, is crucial to enhancing cybersecurity preparedness. The initiative aims to bridge the gap in user vulnerabilities by developing new security solutions and content to improve public awareness of cyber threats.
As new cybercrime tactics emerge, it is essential to enhance existing security measures to protect Hungarian institutions effectively. Banking systems in Hungary remain secure, with significant reductions in financial fraud losses attributed to collaborative efforts between financial institutions, law enforcement, and card networks.
In conclusion, the fight against cybercrime is a shared responsibility for all organizations and individuals. The rapid evolution of cyber threats underscores the importance of continuous collaboration and knowledge-sharing to combat cyber threats effectively. Initiatives like KiberPajzs and cutting-edge cybersecurity technologies are essential components of a robust defense strategy in the digital age.