5 Hacking-damaged Banks Calling Bank President to the National Audit on the 19th
Regarding the recent artificial intelligence (AI) hacking attacks that have hit the financial sector, Financial Services Commission Chairman Lee billion won said on the 8th, “We have no choice but to use AI in the end to prevent AI.” It revealed its willingness to ease regulations on network separation to introduce security AI.
Chairman Lee said in a parliamentary audit of the National Assembly’s Financial Services Commission on the same day, “We are pushing to lift the network separation regulation on the premise of security to support innovation and security capabilities in the financial sector.” He also said he is looking at ways to ease network separation regulations in stages.
Some pointed out that the financial authorities’ management and supervision of AI threats were insufficient. Chairman Lee responded by saying, “The threat of AI hacking is increasing, and our response method is still insufficient in the basics,” adding, “We will thoroughly check and change it.”
The National Policy Committee of the National Assembly has also decided to call the heads of the five major commercial banks that have recently been hacked by the Financial Supervisory Service’s parliamentary audit on the 19th. They voted to adopt witnesses to KB Kookmin Bank President Lee Hwan-joo, Shinhan Bank President Sanghyuk Jung, Hana Bank President Lee Ho-sung, Woori Bank President Chung Jin-wan and NH Nonghyup Bank President Kang Tae-young. As the information leakage damage caused by hacking was large, intensive inquiries are expected on the details of the accident and the problems of the security system.
At the parliamentary inspection on the day, opposition lawmakers criticized the regulation of real estate loans. When Shin Dong-wook, a member of the People’s Power, asked, “Didn’t we fail to set housing prices due to loan regulations?” Chairman Lee countered, “It hurts, but I think it would have been worse if we didn’t do it.”
Regarding limiting the maximum limit of mortgage loans to 600 million won through the June 27 measures last year, Chairman Lee also stressed that the 600 million won measure was effective because high-priced houses such as Gangnam were driving (housing prices) at the time.
Some pointed out that loan regulations change frequently compared to advanced countries such as the United States and France. Chairman Lee drew a line in response, saying, “The real estate situation is quite different from that of advanced countries.”
In addition, the financial authorities said they have completed preparations for the Framework Act on Digital Assets and are conducting last-minute consultations. He added that he will design a system to strengthen the responsibility of financial companies and telecommunications companies for the voice phishing no-fault compensation system.
Click Here For The Original Source.
