Attackers unidentified in most hacking attacks on financial firms: lawmaker

Seoul, October 9 - A lawmaker has reported that the perpetrators behind 16 out of 18 suspected overseas hacking attacks against South Korean financial institutions since 2024 remain unknown. According to Rep. Song Eon-seok of the People Power Party, only two instances of these cyber assaults have been identified thus far. In July last year, Seoul Guarantee Insurance Co. was hit by the GUNRA ransomware group, which caused operations to halt for 64 hours.

Earlier in April, Baro Savings Bank fell victim to the INC Ransom ransomware group. Out of the remaining 16 attacks, 13 were traced back to IP addresses believed to be located abroad, with the country of origin unknown in three cases. These countries of origin included China, the United States, Bulgaria and Vietnam, but an IP address does not necessarily reveal the attacker's physical location.

Lawmaker Song emphasized the urgent need for a defense system powered by artificial intelligence to combat hacking attempts, citing the ease with which IP addresses can be concealed or disguised. Recent weeks have seen several financial entities, including Hana Bank, KB Kookmin Bank and Shinhan Bank, experience data leaks following a series of hacking attacks, sparking concerns over potential breaches at additional institutions.