Police Continue Investigation into Financial Institution Hacking Case; SCIA Decides Not to Open Investigation

[Financial News] The Serious Crimes Investigation Agency (SCIA) has decided not to open an investigation into the recent hacking attacks on financial institutions. Police plan to maintain the existing investigative framework and continue tracking the suspect.
According to the National Office of Investigation, on the 23rd the SCIA replied to police at around 3:04 p.m. that it had decided not to open an investigation into the financial institution hacking case.
The case involves a series of AI-powered hacking attacks targeting financial institutions, including Shinhan Financial Group, KB Kookmin, and Bank of Hope. After launching a preliminary investigation before formal booking on the 1st, police opened a formal investigation on suspicion of violating the Act on Promotion of Information and Communications Network Utilization and Information Protection.
Given the seriousness of the case, police designated the National Police Agency’s Cyber Terror Investigation Unit as the dedicated investigation team. They later expanded the team from 28 to 43 members, adding specialists in digital forensics and international cooperation. Police have been analyzing affected systems and securing related materials, while also tracing the hacking route through international cooperation.
Earlier, after comprehensively reviewing the Financial Services Commission’s authoritative interpretation and the status of the investigation, police additionally identified suspected violations of the Electronic Financial Transactions Act in the case and notified the SCIA on the 21st. Under the Serious Crimes Investigation Agency Act, another investigative agency must notify the SCIA when it becomes aware of a serious crime.
The Seoul Regional Serious Crimes Investigation Agency decided not to conduct a direct investigation, taking into account that police had begun investigating the case before the SCIA was launched and had already made substantial progress, as well as the fact that international cooperation with relevant agencies overseas was underway.
The National Office of Investigation said, “We have continued the investigation without interruption even after notifying the SCIA of the case,” adding, “We will continue to investigate the case thoroughly and responsibly as before and pursue the suspect to the end.”
[email protected] Kim Ye-ji Reporter