South Korean police to refer financial institution hacking cases to serious crime agency
Police to refer hacking cases at about 16 South Korean financial institutions to the Serious Crime Investigation Agency.
The National Office of Investigation under the Korean National Police Agency said it will notify the SCIA of suspected violations of the Electronic Financial Transactions Act, in addition to the Information and Communications Network Act. Under the law, police must notify the SCIA immediately after detecting serious crimes. If notification is made by phone, a written notice must follow within three days. The SCIA must then respond within seven days of receiving the notification on whether it will launch an investigation.
The decision followed a series of cyberattacks earlier this month that hit about 16 local financial institutions, including banks, savings banks and insurance companies. About 100,000 cases of personal data were exposed across the industry, including email addresses, names and phone numbers, according to Yonhap News.
Editor's Summary
South Korea’s police plan to notify the Serious Crime Investigation Agency of suspected law violations tied to hacking at about 16 financial institutions. The move follows cyberattacks earlier this month that exposed about 100,000 cases of personal data, including email addresses, names and phone numbers. The SCIA must decide within seven days of notification whether to open an investigation.