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Korea's financial sector hit by massive data leak
South Korea's financial regulator reported that 37 financial firms were hit by cyberattacks over the past month, exposing approximately 473,000 personal data records and resulting in about 1 billion won ($746,938) in stolen funds, according to Yonhap and the Korea Times. The Financial Services Commission (FSC) said on Nov. 5 that 40 intrusion incidents occurred across the sector, though no sensitive financial information like passwords that could lead to fraudulent payments has been confirmed leaked so far, as reported by Dong-A Ilbo. In response, the government plans to conduct full inspections of security systems at about 580 financial companies and hold CEOs accountable if poor security leads to incidents, according to Chosun Ilbo. Korean media and consumers are expressing anxiety over the breach, with Maeil Business Newspaper noting that "consumer anxiety is rising" amid the hacking spree, and quoting public sentiment like "I might already be robbed too."
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