The financial authorities, facing an all-out hacking wave that hit the financial sector, are continuing working-level meetings with the industry and urging the preparation of security improvements.On the 1st, according to the financial authorities and the financial sector, the Financial Supervisory Service convened working-level meetings by industry association on the 30th and is preparing countermeasures against hacking.A view of the Financial Supervisory Service in Yeouido, Seoul. Apr. 17, 2018 /Courtesy of News1 Im Se-youngThe authorities are reviewing measures such as building a joint AI-based security monitoring system centered on each industry association and federation. They are also requiring financial companies that have completed self-checks of the security checklist to submit improvement plans for deficiencies and are said to be checking implementation from time to time. In particular, they have ordered on-site inspections and examinations to proceed sequentially starting with financial companies with the greatest hacking-related data leaks and instructed them to prepare corrective actions.From late September to early October, after a chain of hacking incidents at Shinhan, KB Kookmin, Hana, BNK Busan Bank and Yegaram, Welcome, OK Savings Bank, and Hyundai Capital, breaches were also confirmed in succession at Daishin Securities, Bithumb, and Mirae Asset Global Investments. The financial authorities completed on-site inspections for 10 days starting on the 13th at Yegaram Savings Bank, which suffered a large leak of about 50,000 items of personal information, and have requested a response with improvement plans.The company is preparing steps such as registering as a new member with the Financial Security Institute, promptly pursuing vulnerability remediation, and strengthening monitoring systems and security solutions.In the insurance sector, the General Insurance Association of Korea and the Korea Life Insurance Association are leading support for company-by-company responses to hacking incidents. They are sharing necessary security issues with member companies and identifying and disseminating damage situations in other sectors. So far, aside from Mirae Asset Life Insurance, there are said to be no insurers that have additionally reported information leaks due to hacking.The Financial Supervisory Service initially planned to complete the on-site inspection of Mirae Asset Life Insurance by the 30th, but extended the period, saying additional verification was needed. It is also extending the ongoing examination at KB Kookmin Bank regarding the additional number of people whose information was leaked and is looking into the circumstances. KB Kookmin Bank first said the number was 119, then later said an additional 2,091 had been identified.The financial authorities suspect that AI agents were used in the recent series of hacking attacks and are conducting a related investigation.※ This article has been translated by AI. Share your feedback here.
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