A series of accidents involving savings 銀, mutual finance, and capitalThe gap in response capabilities among financial companies2 Financial sector 80% without information protection management certificationLack of security investment, and deterioration of computer networks are also serious 사진 확대 Photo = Yonhap News The damage of hacking in the financial sector, which seemed to be calming, is spreading again around the second financial sector. Some worry that the secondary financial sector, which lacks security investment capacity compared to commercial banks, is vulnerable to attacks with artificial intelligence (AI).According to the financial authorities on the 14th, hacking was confirmed in 16 businesses, including banks, savings banks, mutual finance, and capital, before and after the recent Shinhan Bank infringement, and about 100,000 personal information were leaked. Among them, additional outflows were revealed from the Korea Federation of Community Credit Cooperatives, OK and DB Savings Bank, and KDB Capital. The damage was additionally identified mainly in the second financial sector. Previously, the leakage of personal information was also confirmed by online investment-linked financial companies such as Welcome and Yegaram Savings Bank, PFCT, and Mouda, and Hyundai Capital.The problem is defensive stamina. According to the Korea Internet & Security Agency (KISA), 189 out of 236 financial institutions (80.1%) do not have ISMS (Information Protection Management System) certification. Of the 79 savings banks, Welcome and Acuon Savings Bank are the only ones. In the case of ISMS-P (Information Protection and Personal Information Management System), which is more difficult to certify than general ISMS because it examines the level of management from collection of personal information to use, provision, and destruction, none of the savings banks or the mutual finance central association was available. The banking sector contrasts with 12 out of 20 that have received the certification, which does not mean a security level as certification is not mandatory, but it is an indicator of the gap between business sectors.There is also a big gap between investment and manpower. Representatively, Welcome Savings Bank, the industry’s fourth-largest in terms of total assets, invested about 3.7 billion won in information protection last year and had only 7.8 dedicated personnel. Although it accounts for 15.8% of the total information technology (IT) investment, there is a wide gap with commercial banks that spend tens of billions of won when considering the absolute amount.Some analysts say that it is not easier for small and medium-sized companies to expand their security investments as the polarization of earnings is clear, with about half of the net profit of savings banks flocking to two OK and Korea Investment Savings Bank in the first half of this year. Currently, most of the savings banks’ information protection investments and manpower are operated in a so-called “blind” state because they have no legal obligation to disclose them to the outside world.Old computer networks are also holding back. The account system, a core transaction processing system of Saemaul Geumgo, was established in 2009 and has been in use for 17 years. It is currently operating an up-to-date business at a cost of 337 billion won, but it takes time. The Korea Federation of Savings Banks is also investing about 170 billion won to introduce a next-generation integrated computer network in 2028.Some in the industry point out that joint inspection of the business sector and technical support should be increased as there is a limit to expanding investment in individual companies. It is explained that the scope of support should be extended to homepages, mobile, and external access services. An official from a savings bank said, “It is presumed that the recent attack is a new method using AI technology, such as using a large number of IPs. There is a limit to the response only at the individual level, so systematic measures led by the authorities are also needed.” The authorities plan to conduct a full inspection of the entire security system and management system of financial companies and strengthen the joint response system for hacking threats.
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