Key facts
- South Korean regulators ordered financial institutions to conduct security checks after cyberattacks led to data breaches.
- Customer names, phone numbers, and loan data were exposed in the breaches.
- Shinhan Bank reported a breach affecting approximately 25,000 customers.
- KB Kookmin Bank, Hana Bank, and BNK Busan Bank also experienced data leaks.
- President Lee Jae Myung ordered a thorough investigation into the incidents.
- Regulators are considering the involvement of artificial intelligence in the attacks.
South Korean financial regulators have directed financial institutions to conduct comprehensive security inspections and share threat information following a series of cyberattacks that resulted in personal data breaches. The move comes after incidents at Shinhan Bank, KB Kookmin Bank, Hana Bank, and BNK Busan Bank exposed customer names, phone numbers, and loan data.
President Lee Jae Myung has ordered a thorough investigation into the data leaks, emphasizing a grave attitude towards the matter and the need for countermeasures. Financial Services Commission (FSC) Chairman Lee Eog-weon suggested that artificial intelligence might be involved in the attacks, advocating for an "AI attacks defended by AI" approach. The FSC held an emergency meeting with industry associations to discuss the situation and has dispatched personnel to conduct on-site inspections at the affected banks.
Shinhan Bank reported that information belonging to approximately 25,000 customers was leaked after a code related to its communications infrastructure was hacked. KB Kookmin Bank also found that information on over 100 customers had been leaked due to an external intrusion. Authorities are working to determine the exact nature of the leaked information and the methods used in the attacks to alleviate public concerns.