FSC to Hold Security Inspection Meeting Today Amid Recent Hacking Incidents, Monitoring Potential Additional Leaks

Financial authorities are set to inspect security response systems and discuss follow-up measures regarding a series of recent hacking incidents in the financial sector.

The Financial Services Commission (FSC) plans to hold a meeting this afternoon led by Shin Jin-chang, Secretary General, with related organizations and ministries including the Financial Supervisory Service (FSS) and the Financial Security Institute, to review security measures taken by financial institutions.

Following multiple inspection meetings with the financial industry, this session will focus on examining the current status of security checks at the authority level and discussing response measures.

As customer information leaks caused by hacking incidents occurred successively in the financial sector starting with Shinhan Bank late last month, financial authorities ordered all financial sectors to conduct security checks based on a checklist by October 8 and report the results to the authorities.

The checklist included 12 items, such as <blocker deployment for attacker IPs>, <checks for intrusion attempts and damage>, <vulnerability inspections of externally exposed information technology (IT) assets and services>, <application of enhanced authentication procedures>, <operation of real-time security monitoring systems>, and <operation of detection monitoring systems>.

During the meeting, financial authorities plan to review the checklist inspection results compiled by the FSS and discuss response measures to prevent the recurrence of hacking incidents utilizing AI tools.

Under the stance that "AI attacks are blocked by AI," financial authorities maintain their policy of easing network separation regulations.

However, specific implementation schedules, such as the selection of institutions subject to the second phase of easing network separation regulations which was delayed due to the aftermath of the hacking incidents, are not expected to be discussed today.

Meanwhile, as intrusion reports were filed yesterday by MG Community Credit Cooperatives (Saemaul Geumgo) and OK Savings Bank, financial authorities plan to respond while keeping in mind potential connections to previous incidents.

During the inspection period conducted by the authorities, customer information was leaked due to hacking incidents at seven companies: Shinhan, KB Kookmin, Hana, and BNK Busan banks, Yegaram and Welcome savings banks, and Hyundai Capital, followed by additional reports.

At MG Community Credit Cooperatives, some personal information of approximately 400 customers, including names, addresses, and encrypted resident registration numbers, was leaked, while OK Savings Bank is currently checking whether information was leaked.

Although the additional incidents are presumed to be by different attackers from the previous series of incidents, authorities are also investigating possible links to existing cases.

Financial authorities are currently conducting inspections on Shinhan and KB Kookmin banks and have also initiated on-site inspections of Yegaram and Welcome savings banks.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.