Search results for Electronic Financial Transactions Act
Finance
Financial sector hacking leaks 100,000 records; FSC tightens CEO security accountability
A string of hacks targeting South Korea\'s financial sector has led to confirmed breaches at 16 financial companies and the leakage of about 100,000 items of personal information, authorities said. After an emergency inspection of 555 financial firms, 130 reported shortcomings in security management. The Financial Services Commission plans institutional changes to strengthen CEOs\' and boards\' responsibility for security, expand vulnerability checks and improve threat-information sharing and monitoring systems.
Finance
Financial sector hacking spreads as police open investigation after 28 attack IPs identified
Signs of hacking targeting the financial sector have spread beyond banks and secondary financial firms to internet banks and the insurance and securities industries. South Korea\'s Financial Supervisory Service identified 33 IP addresses linked to hacking attempts, or 28 excluding duplicates, and asked financial firms to block them and conduct self-checks. Police formed a dedicated team and opened a formal investigation. The government called for swift clarification of the circumstances and measures to minimise damage.
Telecommunications & Media
Telecoms industry opposes no-fault compensation for voice phishing losses
South Korea\'s telecommunications industry has pushed back against discussions on extending no-fault compensation for voice phishing losses to telecom carriers. The Korea Telecommunications Operators Association said carriers do not manage financial transactions and are restricted from arbitrarily listening to or checking call and text content. It said telecom networks are a channel for information, while transfers and withdrawals occur within the financial system. It cited overseas examples and said carriers will keep strengthening prevention efforts with the government and finance sector.
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Crypto
Democratic Party says it will prepare digital asset framework act within year, hold hearing soon
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Finance
Travel Wallet faces capital task ahead of 2027 Kosdaq IPO
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Finance
Cross ENF registers as issuer and manager of prepaid electronic payment instruments
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Finance
Kim Byoung-hwan says plan to fully lift network separation rules will be announced soon
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Finance
Toss, Kakao Pay and Naver Pay to expand access to resident ID verification network
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Fintech
Financial regulators to tighten protection of PG settlement funds, cancel licenses or registrations after repeated suspensions
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Finance
PG industry polarisation deepens as revenue grows and profitability stagnates
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Finance
NHN KCP builds payment infrastructure for CJ Olive Young\'s Olive Point
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Crypto
iM Financial says it successfully tests blockchain-based prepaid payment service
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Finance
Lee Chan-jin vows zero tolerance for repeat IT incidents, strengthens internal controls and preventive oversight
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Crypto
Lee Chan-jin says Bithumb mispayment case confirms internal controls flaws, sanctions review begins
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Telecommunications & Media
South Korea ministry weighs delay to mandatory face verification for mobile phone sign-ups
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Telecommunications & Media
NHRC urges review of mandatory face authentication for mobile phone activations
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Finance
Toss Bank to cancel or correct yen exchange deals after half-price rate error
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Finance
Korea Fintech Industry Association launches under Kim Jong-hyun amid regulatory risks