The National Bank of Hungary (MNB), the Hungarian Banking Association, the National Media and Infocommunications Authority (NMHH), National Security Service - National Cybersecurity Institute (NBSZ-NKI) and the National Police Headquarters (ORFK) have decided to establish a joint educational and communication co-operation scheme titled CyberShield (KiberPajzs). Digital financial criminals today attack primarily by way of emotionally manipulating and deceiving consumers. Thus, the organisers of CyberShield are joining forces to raise the financial awareness of retail customers and manage cyber risks as effectively as possible.
A co-operation agreement was signed in Budapest by Dr. Csaba Kandrács, Deputy Governor, Dr. Barna Fömötör, Director General (National Bank of Hungary), Dr. Levente Kovács, Secretary General (Hungarian Banking Association), Dr. András Koltay, President (National Media and Infocommunications Authority), Dr. Csaba Kiss, Director General (National Security Service - National Cybersecurity Institute) and Dr. János Balogh, National Chief of Police (National Police Headquarters) on the organisation of a joint cybersecurity education and communication campaign.
Under the CyberShield project, institutions and market players will launch a comprehensive education programme to improve the digital financial literacy of customers. A broad and co-ordinated communication campaign will also be launched to raise awareness of cybersecurity risks and show ways to protect against them.
The CyberShield project aims to analyse and further develop the cybersecurity processes of public authorities and markets. It also aims to share national and international professional knowledge and gather best practices to facilitate stronger and more effective financial cybersecurity solutions.
Digitalisation is triggering a proliferation of electronic payments; however, at the same time, although the domestic financial sector is considered to be very secure by European standards, the number and ratio of successful fraudulent transactions are also on the rise. Criminals do not directly attack financial institutions or infrastructure, but primarily target consumers (who are sometimes lost amidst all the rapid changes), deceiving them or manipulating their emotions. This is why it has become essential to raise the financial awareness of customers, who represent the ‘first line of defence’, and prepare them for addressing cyber risks.
The project focuses in particular on minors and highly vulnerable social groups (such as senior citizens), but, in addition to addressing consumers, it will also send preventive messages to small and medium-sized enterprises and other business customers.
Under the CyberShield programme, institutions will use simple messages with a shared imagery to explain the main forms of fraud, such as phishing, fake calls or text (SMS) messages from banks, fake banking websites, false forms for transaction approval, fraudulent investment or other online offers, and theft of personal data through social media.
During the first campaign to be launched in November, three 'everyday role models' whose life situations are similar to those of most digital financial consumers in Hungary, will tackle financial cyber risks on posters and in messages.
The organisers of the CyberShield programme trust that customers, public authorities and market players will together be able to offer 'bulletproof' defence against digital criminals.
National Bank of Hungary, Hungarian Banking Association, National Media and Infocommunications Authority, National Security Service - National Cybersecurity Institute, National Police Headquarters
2022.11.07.
