Financial Authorities Issue Consumer Alert Over Secondary Hacking Damages... Special Response Period Set

Consumer Alert to Be Raised Immediately if Secondary Damage Occurs

Financial authorities have issued a consumer alert and designated a special response period to reduce personal information leakage damages caused by a recent series of hacking incidents in the financial sector.

Yonhap News Agency

On October 6, during an emergency inspection meeting with financial companies, the authorities announced a "caution" level consumer alert and established a one-month special response period focused on preventing secondary damages stemming from leaked personal information.

During this period, financial institutions are required to operate dedicated counseling centers for issues related to personal information leakage. If reports of secondary damages are received or suspected, they must immediately notify the authorities.

Financial companies must also strengthen monitoring through their Fraud Detection System (FDS). In addition, they are required to quickly share and analyze suspicious information related to data breaches through ASAP, an artificial intelligence (AI) platform for voice phishing data sharing and analysis, in collaboration with telecommunications companies and investigative agencies. Financial institutions must also act swiftly to block suspected accounts and prevent further damages.

According to the authorities, there have not yet been any confirmed secondary damages, such as customer funds being leaked. However, they have stated that these measures are in preparation for the possibility of additional damages. The authorities will decide whether to extend the special response period depending on the future situation. If secondary damages occur, the consumer alert level will be raised immediately.

The authorities also explained that, while no passwords or one-time password (OTP) information have been exposed, scammers could exploit the leaked personal information by pretending to offer loan consultations or compensation for leaked personal data. They cautioned that even if information such as income or loan limits is mentioned, these communications should be regarded as suspicious.

Financial authorities advised that individuals should verify the status of any personal data leaks directly through the official websites or main contact numbers of the relevant financial institutions. They also informed that victims of data leaks can block illegal financial activities using the leaked data in advance by enrolling in the "Financial Transaction Safety Block Service."

This content was produced with the assistance of AI translation services.