Korea Financial Security Institute hacked, 650 records leaked

What was hacked at the Korea Financial Security Institute?

The target was a support system that financial institutions use to submit administrative paperwork. According to the institute, the leaked data is mostly consent forms for providing personal information. It says no sensitive material such as personal credit information was included.

The institute says it will explain the incident individually to the affected financial institutions and users, and that it will pay compensation if anyone suffers secondary damage. It also apologised, saying that as a security specialist it is expected to meet a high standard of protection and trust, and that it had worried both financial firms and the public.

A string of attacks on Korean finance

The breach comes after a rough autumn. In September and October, five major South Korean banks were hit by hacking attacks carried out with artificial intelligence. The banks reportedly blocked access to internet banking and transaction data, but some customers' names, addresses, phone numbers and encrypted resident registration numbers still leaked.

Industry people were shaken by the latest case. One was quoted saying that if the institute itself was broken into, there is no longer any safe zone in the financial world.

The number of records is small next to the bank incidents. What stings is who was targeted: the body that is supposed to lead the defence.