Vlad Andriescu
Financial fraud is becoming increasingly common across Europe, including Romania. More than half of all cases already involve the use of artificial intelligence. Identity theft has emerged as one of the most sophisticated and difficult-to-detect forms of digital attack. At the same time, financial losses have risen alarmingly over the past two years, according to an analysis by Money Motion, one of the most important regional conferences dedicated to technology, fintech, and the banking industry.
Experts warn that online fraud now operates as a true industry, constantly evolving and adapting, and Romanians need to better understand how to protect their money and digital identity.
What are the new risks, and what solutions are available to prevent the next wave of attacks? The answers will be provided at Money Motion, the largest fintech event in Central and Eastern Europe, taking place on March 11–12, 2026, at Zagreb Fair in Croatia.
The fourth and largest edition to date will bring together over 700 companies and 3,500 professionals from the financial and technology sectors, serving as the leading meeting point for the regional financial and tech industry. The event will be held at the Zagreb Exhibition Centre (Velesajam), with the support of top financial and technology brands, including Mastercard, ASEE, Monri, Croatia osiguranje, A1 Hrvatska, Bankart, and Robotiq.
Most victims never report financial fraud
Experts worldwide warn that fraud has become so prolific and organized that we are talking about an entirely new market layer. Terms like "Scam as a Service" or "Fraud as a Service" are being used more frequently. This is not just a descriptive term; last year saw a surprising surge in black-market technological solutions—automated digital platforms for conducting fraud—that can be used by anyone, regardless of prior technical knowledge.
"Scams have become industrialized, meaning fraud is no longer a fringe risk, but a shared challenge for the entire financial ecosystem. Those still relying on static rules and post-incident controls are already behind; today’s environment demands real-time intelligence, identity and collaboration across banks, merchants and networks. This is why security has become one of the most valuable assets in payments: Mastercard has invested over $11 billion in cybersecurity in the past five years. We are harnessing the latest technology, to analyse patterns of behaviour; scanning billions of data points to protect every single one of our 159 billion transactions a year to keep banks, merchants and their customers safe every day – and stopping fraud and scams in real time, before they occur”, said Bartosz Ciolkowski, Division President, South East Europe, Mastercard.
While AI has been used in fraud detection far longer than in fraud creation, generative AI has confronted the industry with a new level of risk: higher volume, a greater diversity of attackers, more potential victims, and ultimately, a much higher cost to the global economy.
Tens of trillions of dollars at stake
ASEE Croatia considers cybersecurity the foundation of every product and partnership. Over the last two years, they have seen a clear evolution in the sophistication of phishing attacks, where checking an email's spelling is no longer enough to identify them. They also see the use of social media bots to steal identities and passwords, particularly targeting older users.
“The transformation of cybercrime, strongly driven by AI, has profound consequences for the financial market. According to estimates by Cybersecurity Ventures, the global cost of cybercrime in 2031 could reach approximately $12.2 trillion annually if current growth trends continue," explains Robert Preskar, Director of Product and Solution Development for Security and Card Business at ASEE Croatia.
Regardless of the current situation and regulations such as DORA, NIS2, and CRA, many companies outside the IT and financial sectors continue to ignore and underinvest in cybersecurity. Alongside technology and the 'AI arms race,' the key to fighting cyber threats is networking among professionals, sharing information to suppress wide-reaching threats, and collaboration between all institutions -from financial entities and service providers to the state and specialized cybersecurity firms, the specialist added.
The newest EU regulations
How to harness the potential of AI in preventing financial attacks on organizations and users will be a major topic on the AI & Automation Stage, the newest stage at the Money Motion conference.
“Security is now one of the key elements of the financial services we provide. Technological sophistication is no longer enough on its own—the value of a bank today is measured by its ability to prevent an attack before the client even notices it," emphasizes Josip Majher, Member of the Board at HPB (Hrvatska poštanska banka).
Investment by financial institutions into defense and detection is a critical aspect of the EU’s PSD3 regulation. In other words, banks now hold more responsibility for protecting citizens and business entities than ever before. If they fail to apply high enough protections, they may have to bear the costs of the attacks.
Finally, Marijo Sutlović, Director of Cyber and Information Security at OTP Bank, agrees that in a world of scalable and personalized fraud, security is more than just a function—it is a prerequisite for trust.
"Banks have been using AI and analytical models for years to detect anomalies and compromises. In doing so, almost invisibly, they provide additional security and ensure the reliability of digital channels. The challenge for banks is finding the balance between strong protection and a seamless user experience, which is an imperative. Today, security has become one of the most significant financial services because, without it, trust disappears—and in a world where our assets are inextricably linked to digital channels, trust is the true value that makes the difference," the specialist says.
Money Motion is the largest FinTech event in Central and Eastern Europe, bringing together over 700 companies and approximately 3,500 professionals from the financial and technology sectors each year. The conference gathers leaders from banking, fintech, digital payments, cybersecurity, regulation, and technological innovation, providing a strategic platform for debates, partnerships, and the launch of the latest industry solutions.
The event will take place on March 11–12, 2026, at the Zagreb Fair in Croatia. It will serve as the main meeting point for the financial and tech ecosystem in the Central and Eastern European region, bringing together specialists, investors, and companies from Romania and other European markets.
Tickets can be purchased on the official website, www.money-motion.eu, or via the Entrio platform. The promotional Early Bird price of €289 is available until Sunday, February 14.
