The security problems for credit card users in South Korea continues to take a toll on consumers and the country’s credit card industry. Yonhap News Agency is reporting yet another data leak involving credit card firms. This time, it’s reportedly 100,000 people who use Shinhan, Kookmin, NongHyup credit cards and Kwangju Bank. This is not the…
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KR: Data-leaked card firms may suffer some 100 bln won revenue loss on biz suspension
Yonhap News reports that penalties imposed by financial regulators following data leaks may really hurt card issuers’ bottom lines this year: The three credit card firms hit by recent massive data leaks may lose some 100 billion won (US$93.6 million) in revenues due to a three-month business suspension ordered by the country’s financial regulator, data…
South Korean card firms suspended over data breach
I remember the cheers at school football and basketball games, “We don’t mess around – HEY! We don’t mess around – HEY!” I thought of that while reading a news story this morning with a follow-up to a breach affecting 15-20 million South Korean credit card holders by a contractor’s employee: South Korean authorities have…
Fox in the hen house: Personal information from 100 million South Korean credit cards stolen by contractor hired to forgery-proof credit cards
That latest data breach in South Korea is causing waves there, with estimates that 15-20 million have been affected by an insider breach at the Korea Credit Bureau: Worried Koreans on Tuesday packed into branches of one of the banks hit by the theft to ensure their money was safe, while lawyers said 130 people…
KR: Out of the country? You’re out of luck: Expats left out in info leak case
Kim Tae-jong reports: Potentially hundreds of thousands of expatiates have been left out in cold in the largest financial data theft case in Korea’s history. Financial regulators as well as credit card firms and their parent banks have not provided any services for foreign credit card holders to check whether their data was leaked, nor…
20 million people fall victim to South Korea data leak; FSS calls on financial institutions to improve protections against insider leaks
AFP reports: The personal data of at least 20 million bank and credit card users in South Korea has been leaked, state regulators said Sunday, one of the country’s biggest ever breaches. Many major firms in the South have seen customers’ data leaked in recent years, either by hacking attacks or their own employees. In…