[EXPLAINER] How AI emerged as new threat in Korea's bank hacking crisis

In Korea's latest banking crisis, AI has emerged as a new threat, investigators have discovered traces of an autonomous penetration-testing tool powered by artificial intelligence in a series of cyberattacks on major banks. The attacks affected several institutions, including Shinhan Bank, KB Kookmin Bank, Hana Bank, Yegaram Savings Bank, and BNK Busan Bank.

Each bank reported data breaches, with Shinhan Bank alone affecting around 25,000 customers, exposing personal information such as names, phone numbers, annual income, and loan limits.

KB Kookmin Bank reported 119 affected customers, while Hana Bank said personal data of 89 customers was compromised. The hacking spree has raised significant concerns among authorities and security experts, as the use of AI in this context allows hackers to automate the identification of vulnerabilities and exploit them with minimal human intervention. The AI-powered tool, named in the investigation, has added a new layer of complexity to the security challenges faced by the financial sector in Korea.