South Korean president orders probe into data leaks across financial industry

President Lee Jae Myung of South Korea has directed authorities to look closely into a string of personal data leaks affecting banks, finance firms and state bodies, Business Recorder reported, citing the presidential office in Seoul. The Financial Services Commission held an urgent session on Sunday with industry groups, regulators and executives from affected institutions. The FSC chairman, Lee Eog-weon, cautioned that the sector needs to stay at its most alert level.

Regulators have not ruled out that artificial intelligence played a part in the attacks, and the FSC chairman called for defences that use AI to counter AI-driven intrusions. An on-site probe began after Shinhan Bank flagged an intrusion dated September 30, and it has since been widened to other cases. On Friday the commission had named Shinhan Bank, KB Kookmin Bank and others as reporting cyberattacks, while Yonhap said Hana Bank and Woori Bank had also been breached.

Institutions have been told to run comprehensive security checks, tighten access controls, limit external system access and reinforce consumer protection. Yonhap, citing bank data given to lawmakers, said the traffic came from addresses in the United States, Japan, Singapore, Vietnam and Britain. Regulators believe the attacks may have scanned several firms for weaknesses rather than targeting one institution. The main opposition People Power Party has asked authorities to examine possible North Korean involvement, pointing to earlier attacks blamed on Pyongyang.