Search results for Credit Finance Association
Finance
FSS raises whistleblower rewards to 1 billion won at savings banks, mutual finance
South Korea’s Financial Supervisory Service is expanding whistleblower rewards for internal wrongdoing at savings banks, mutual finance groups and card and capital companies to as much as 1 billion won. The scheme will allow retirees and outsiders, not only current staff, to report misconduct. It will also expand eligible cases and clarify calculation standards. Firms must prove actions were not retaliatory if disadvantages occur within 2 years after a report.
Finance
Hacking emergency spreads from banks to savings banks and capital firms in South Korea finance sector
Hacking attacks that targeted South Korea’s five biggest banks are spreading to secondary financial firms including savings banks and capital companies. Customer data leaks were confirmed at Shinhan, KB Kookmin and Hana, while leaks were also reported at Yegaram Savings Bank and Hyundai Capital. Woori Bank and NH Nonghyup Bank were attacked but no data leak has been confirmed. Regulators are bringing forward inspections and calling an emergency meeting of finance industry heads and affected CEOs.
Finance
FSC to urgently check payment gateway security risks, including indirect attacks via merchants
South Korea\'s financial authorities carried out an urgent check of security vulnerabilities and incident response systems at payment gateway (PG) firms amid a series of recent breaches. They discussed expanding oversight beyond PG systems to include indirect attacks via merchants with weaker security. The meeting also reviewed ways to minimise personal data processed by PG firms and strengthen information sharing with card companies, consumer notifications, card reissuance and full compensation for 피해.
