People Power Party on Bank Data Leaks and Hacking: "All Financial-Sector Systems Must Undergo Comprehensive Security Inspections"

The People Power Party on the 3rd urged a ground-up review of the financial sector's security system following a series of customer data leaks and hacking attacks at major banks.
In a statement issued that day, People Power Party chief spokesperson Park Sung-hoon said, "A cyber security emergency light has come on across South Korea's financial sector," making the call.
Park pointed out, "Relatively vulnerable peripheral systems, such as loan-agent lookup services and employee business-support systems, have become entry points for attacks," adding, "Before worrying about cutting-edge AI-driven hacking, we cannot help but ask whether the financial sector's basic entrances were properly locked in the first place."
He continued, "When it comes to bank security protecting people's assets and sensitive personal information, there can be no distinction between a main building and an annex, nor can the front door differ from the back door," criticizing the situation by saying, "If an iron wall has been built around the front door while the back door was left open, that is not ironclad security but merely an 'illusion of security.'"
He also took issue with the financial authorities' response. Park said, "The financial authorities' responsibility is by no means insignificant," adding, "Bank security is the last line of defense for the financial system that protects the public's assets and credit."
He urged the authorities to "conduct a comprehensive, ground-up inspection of every financial-sector system accessible from outside and thoroughly establish every detail of the process, from the initial intrusion to the authorities' response."
Banks have recently experienced a series of data leaks and hacking attacks. At Shinhan Bank, the personal and credit information of approximately 25,000 customers was leaked. Data belonging to 119 customers at KB Kookmin Bank and 89 customers at Hana Bank was also found to have been exposed. At Busan Bank, information on 11 outsourced workers was reportedly leaked, while some banks also faced attempted hacking attacks.
 
[email protected] Choi Eun-sol Reporter