South Korea FSS Chief Vows Stronger Cybersecurity After Data Breaches
South Korea’s FSS chief pledged stronger cybersecurity and probes after attacks exposed about 100,000 data cases.
Speaking at a parliamentary audit, Lee said the recent security breaches had caused great concern among the public and that the FSS would 'swiftly address security vulnerabilities through a thorough investigation into the causes.'
Lee said he would encourage financial institutions to strengthen their internal security capabilities using artificial intelligence technologies so they can respond effectively to AI-powered cyberattacks. He added that the FSS would consult with the Financial Services Commission to review measures aimed at encouraging financial institutions to increase investment in security and personnel.
The remarks came after about 16 local financial institutions, including banks, savings banks and insurance companies, were hit by a series of cyberattacks earlier this month, Yonhap reported. About 100,000 cases of personal data across the industry were exposed, including email addresses, names and phone numbers.