South Korea’s Financial Services Commission (FSC) is proposing tougher cybersecurity assessments after a review found deficiencies at 130 of 555 financial companies. Earlier security incidents involved 16 firms, including crypto exchanges, and exposed about 100,000 pieces of customer information such as names, contact details and ID numbers. Affected firms include Gopax operator Streami and crypto platform Prabang, which disclosed that an Oct. 2 hack exposed some customers’ personal info. Proposed reforms include vulnerability assessments at least twice a year for larger institutions, better information-sharing, possible AI-assisted monitoring for smaller firms, and extra inspections when urgent threats emerge. The FSC is still investigating whether AI was used in the incidents or whether they were linked to the same attackers.
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