South Korean President Orders Probe After Financial Data Breaches
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South Korean President Lee Jae Myung ordered a thorough investigation on Oct. 4 into a series of data breaches affecting banks and other financial institutions, according to the presidential office.
The incidents have reached major commercial banks, a regional bank, a savings bank and a finance company. Tens of thousands of customers have been affected, while authorities are also investigating whether AI-assisted tools played a role. South Korea’s Financial Services Commission (FSC) has told the sector to tighten access controls, review exposed systems and share threat information quickly.
Breaches spread across South Korea’s financial sector
According to Korea JoongAng Daily, the incidents have affected major commercial banks as well as regional and nonbank financial institutions. The spread...
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