Ransomware gang threatens to dump more South African client data

South Korean President Lee Jae Myung has ordered a comprehensive investigation and response measures following recent personal data leak incidents in banks, finance companies, and public agencies, according to the presidential office. The Financial Services Commission (FSC) hosted an emergency meeting with financial industry stakeholders on Sunday, emphasizing the need for heightened vigilance across the sector.

FSC Chairman Lee Eog-weon indicated that authorities are considering the possibility of AI involvement in the attacks and is advocating for an "AI attacks defended by AI" approach, alongside plans for broader cybersecurity upgrades for the financial industry.

The FSC's investigation began after Shinhan Bank reported a breach on September 30, with subsequent probes expanding to other reported incidents. Financial institutions have been directed to conduct comprehensive security inspections, tighten access controls, minimize external system access, and enhance consumer protection measures. Threat information, including attack methods and internet protocol addresses, will be rapidly shared among the industry to prevent further incidents.

Regulators believe the attacks may have targeted multiple financial companies to identify vulnerabilities, with attack traffic originating from IP addresses in several countries, including the United States, Japan, Singapore, Vietnam, and Britain. The opposition People Power Party has called for an investigation into the potential involvement of North Korea, citing past cyberattacks against South Korean financial institutions by Pyongyang.