Financial regulators to impose punitive fines over lax security

A pan-government body vowed to roll out stricter regulations and oversight measures to bolster cybersecurity, prompted by two major cyberattacks targeting the country’s telecommunications and financial sectors on Friday. According to the Ministry of Science and ICT and the Financial Services Commission (FSC), a public-private joint investigative body is looking into the incidents. The rare joint move by the science ministry and the top financial regulator followed a spike in public concern following two high-profile attacks. One was a breach of KT’s mobile network infrastructure and the other a massive customer data leak from Lotte Card. The two events exposed critical vulnerabilities in Korea’s digital infrastructure and highlighted a lack of penalties for potential national security breaches. The briefing did not announce unified, detailed response plans. The government is expected to roll out a comprehensive cybersecurity strategy in the coming weeks. “The government, led by the National Security Office, is conducting a joint investigation involving multiple government agencieWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times