FSS Begins On-Site Inspections of Yegaram, Welcome Savings Banks Over Hacking-Related Data Leaks

Deciding Whether to Escalate to a Formal Examination After the Inspection

The Financial Supervisory Service (FSS) has begun on-site inspections of Yegaram Savings Bank and Welcome Savings Bank, where customer information was leaked following hacking incidents.

The Financial Supervisory Service headquarters in Yeouido, Seoul.

According to the financial industry, the FSS visited the two savings banks on October 13 to investigate the causes of the recent hacking incidents and how the information was leaked.

An FSS official said, "It is true that we visited the two savings banks for on-site inspections."

At Yegaram Savings Bank, an estimated 50,000 records containing personal information, including customers' names, dates of birth, contact details, account numbers, resident registration numbers, employer names and addresses, were leaked in a hacking attack on September 30.

An initial notice issued on October 2, when the bank first disclosed the leak, listed only customers' names, dates of birth and contact details as compromised. The bank later updated the notice after it emerged that resident registration numbers, account numbers and addresses had also been leaked.

Welcome Savings Bank said that a hacking attack on September 27 exposed corporate internet banking IDs, company names, representatives' names, company work contact details, mobile phone numbers and email addresses.

The bank estimated that 2,299 of the 2,370 leaked data records contained personal information.

The FSS plans to decide whether to escalate its inspections to formal examinations depending on how they progress.

Separately, the FSS has been conducting an on-site examination of Shinhan Bank since October 6. The bank has suffered the largest-scale breach, with information belonging to about 25,000 customers leaked.

KB Kookmin Bank was undergoing a regular examination when the leak of information belonging to 119 customers came to light. An IT examination team already on site was assigned to assess the situation starting October 1. The regular examination is scheduled to continue until the end of October, but may be extended depending on the circumstances.

No plans have been identified for separate inspections of Hana Bank, where information belonging to 89 customers was leaked, or Hyundai Capital, where some personal information belonging to 146 mortgage loan agents was exposed.

BNK Busan Bank, where information belonging to 11 outsourced development staff members was exposed, is reportedly seen as having a relatively low need for inspection, given the scale of the leak and the nature of the damage.

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