1 hr ago
South Korea Orders Probe Into Widening Financial Data Leaks
South Korea has reported data leaks and cyberattacks involving financial institutions and public agencies.
President Lee Jae Myung ordered officials to investigate and respond.
The financial regulator met with industry representatives on Sunday.
It told institutions to check their security and make it harder for outsiders to access their systems.
Officials are sharing information about the attacks to help prevent more incidents.
They said they cannot rule out the use of artificial intelligence in the attacks.
News reports said the attacks may have scanned many companies for weak spots.
The opposition party also wants officials to look into possible North Korean involvement, but that has not been established.
President Lee Jae Myung ordered an investigation and response measures after personal data leak incidents affected banks, finance companies and public agencies.
The Financial Services Commission held an emergency meeting on Sunday and called for heightened vigilance and stronger cybersecurity.
Authorities began on-site investigations after Shinhan Bank reported a breach on September 30, and later expanded probes to other reported incidents.
Regulators ordered comprehensive security checks, tighter access controls, reduced external system access and stronger consumer protections.
The opposition People Power Party called for investigation of possible North Korean involvement; authorities have not confirmed that link.
- Who
- South Korean President Lee Jae Myung, the Financial Services Commission, and affected financial institutions.
- What
- A government-ordered investigation and cybersecurity response to reported data leaks and cyberattacks.
- Where
- South Korea.
- When
- The order and emergency meeting were reported on Sunday; Shinhan Bank reported a breach on September 30.
- Why
- To investigate reported breaches, strengthen financial-sector cybersecurity and prevent further incidents.
Official response
Opposition concerns
Potential North Korean involvement
Official response
The articles do not report authorities confirming who was behind the attacks; Yonhap reported that regulators suspect broad vulnerability scanning across multiple companies.
Opposition concerns
The People Power Party urged authorities to investigate possible North Korean involvement, citing past cyberattacks attributed to Pyongyang against South Korean financial institutions.
Use of artificial intelligence
Official response
Financial Services Commission Chairman Lee Eog-weon said authorities could not rule out AI use and called for an approach of defending AI attacks with AI.
Opposition concerns
The articles provide no separate opposing assessment of whether AI was used in the attacks.
Key facts
- President
- Lee Jae Myung ordered a thorough investigation and response measures.
- Emergency meeting
- The Financial Services Commission convened financial industry associations, regulators and executives on Sunday.
- First cited breach
- Shinhan Bank reported a breach on September 30, prompting on-site investigations.
- Reported institutions
- Reports named Shinhan Bank, KB Kookmin Bank, Hana Bank and Woori Bank among institutions affected.
- Regulatory measures
- Institutions were directed to inspect security, tighten access controls, reduce external system access and strengthen consumer protections.
- Reported attack origins
- Yonhap, citing bank data submitted to lawmakers, reported traffic from IP addresses in the United States, Japan, Singapore, Vietnam and Britain.
- Possible attack pattern
- Yonhap reported regulators believe attackers may have scanned multiple financial companies for vulnerabilities.
Quotes
Kang Yu-jung
Presidential spokesperson
“He instructed authorities to take the matter seriously, conduct a thorough investigation and spare no effort in coming up with measures to address the issue.”
thehansindia.com
“President Lee was briefed on the recent data breaches at financial and public institutions and the measures taken in response.”
thehansindia.com
Sources
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