FSS Extends On-Site Inspection of 'PayHub' After 200 Million Won Theft, Probes for Further Hacking
Unauthorized Transfer of Merchant Settlement Funds Confirmed
FSS to Conduct Comprehensive Inspection of External-Facing Points Across the Financial Sector
Financial authorities have decided to extend their on-site inspection of PayHub, a payment gateway (PG) provider from which 200 million won was stolen in a hacking incident.
According to financial industry sources on November 3, the Financial Supervisory Service (FSS) began its on-site inspection of PayHub on October 28. The inspection was originally scheduled to end that day, but the FSS reportedly extended it after determining that further checks were needed.
While independently checking whether it had been accessed by internet protocol (IP) addresses associated with recent hacking incidents in the financial sector, PayHub discovered that approximately 200 million won in merchant settlement funds had been transferred without authorization.
Financial authorities and the Financial Security Institute are investigating whether the attack involved artificial intelligence (AI), as in previous hacking incidents in the financial sector.
Zoom Fund, an online investment-linked finance provider, also had approximately 300 million won in customer deposits transferred to a third-party account in a hacking incident and underwent an on-site inspection on the same day as PayHub. The inspection of Zoom Fund ended on November 3.
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Meanwhile, at an executive meeting on November 3, FSS Governor Lee Chanjin said the FSS would conduct a comprehensive inspection of external-facing points across the entire financial sector, including general agencies (GAs), money-lending businesses, virtual asset businesses, and online investment-linked finance providers that are not subject to the Electronic Financial Transactions Act, to prevent further incidents. FSS IT specialists will also conduct follow-up checks to verify whether the inspections have been carried out.
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