Fighting AI with AI: Korea to phase out 'network separation' rules for financial firms
Korea’s financial authorities are moving to phase out longstanding rules requiring financial firms to separate their internal networks from the outside internet, aiming to strengthen the industry’s defenses against sophisticated cyberattacks powered by artificial intelligence (AI), officials said Friday. However, cybersecurity experts warn that easing the rules before adequate safeguards are in…
South Korea's financial regulatory body plans to gradually eliminate longstanding network separation rules for financial companies, aiming to bolster the industry's defenses against advanced cyber threats enabled by artificial intelligence, officials revealed on Friday. Nonetheless, cybersecurity specialists caution that prematurely relaxing these regulations could potentially create fresh vulnerability points for malicious actors to exploit.
Financial Services Commission (FSC) Chairman Lee Eog-weon announced on Thursday that the regulator would establish a task force in the coming month to devise a strategy by early next year to replace the "network separation" rules with an AI-driven security framework, adhering to the principle of countering AI-driven attacks with AI technologies.
The task force will comprise representatives from the Financial Services Commission, the Ministry of Science and ICT, the National Intelligence Service, the Financial Supervisory Service, the Financial Security Institute, as well as private-sector AI and cybersecurity experts and financial industry leaders. The modifications will be implemented incrementally over time.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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