Financial authorities in South Korea held an emergency meeting on October 4 after a wave of hacking attacks struck the country's financial sector between September 30 and October 3, hitting four major banks along with savings banks and capital firms.
From banks to savings firms
The attacks affected Shinhan, KB Kookmin, Hana and BNK Busan Bank, as well as Ye-garam and Welcome Savings Banks and Hyundai Capital. The meeting of financial chiefs had originally been scheduled for October 7 but was brought forward as the incidents spread from the banking sector to savings banks and capital companies.
AI involvement 'cannot be ruled out'
The chairman of the Financial Services Commission said the possibility that artificial intelligence was used in the attacks "cannot be ruled out," warning that the sector would have to fight AI-driven attacks with AI-based defences.
Self-checks ordered by October 6–8
The Financial Supervisory Service ordered all institutions with weak authentication systems to carry out self-checks by October 6–8. President Lee Jae-myung ordered a thorough investigation and countermeasures, Aju Press reported.
One attacker suspected
According to the authorities, the same IP address surfaced at multiple firms, suggesting a single attacker probing employee-facing systems. Officials said no monetary losses or service disruptions had been reported. The investigation is continuing, and no cause has been officially established.
Sources: Aju Press
From banks to savings firms
The attacks affected Shinhan, KB Kookmin, Hana and BNK Busan Bank, as well as Ye-garam and Welcome Savings Banks and Hyundai Capital. The meeting of financial chiefs had originally been scheduled for October 7 but was brought forward as the incidents spread from the banking sector to savings banks and capital companies.
AI involvement 'cannot be ruled out'
The chairman of the Financial Services Commission said the possibility that artificial intelligence was used in the attacks "cannot be ruled out," warning that the sector would have to fight AI-driven attacks with AI-based defences.
Self-checks ordered by October 6–8
The Financial Supervisory Service ordered all institutions with weak authentication systems to carry out self-checks by October 6–8. President Lee Jae-myung ordered a thorough investigation and countermeasures, Aju Press reported.
One attacker suspected
According to the authorities, the same IP address surfaced at multiple firms, suggesting a single attacker probing employee-facing systems. Officials said no monetary losses or service disruptions had been reported. The investigation is continuing, and no cause has been officially established.
Sources: Aju Press
