South Korean regulators order security checks after data breaches

South Korean regulators: South Korean regulators, led by the Financial Services Commission (FSC), oversee financial institutions including banks and card companies while enforcing security, compliance, and consumer protection standards. Following a series of cyberattacks resulting in personal data breaches at multiple banks, they convened emergency meetings and directed prompt internal security inspections of all externally accessible IT systems, along with enhanced information sharing on attack methods across the sector. Regulation: South Korean financial authorities have directed banks and credit card companies to conduct thorough reviews of externally exposed IT systems and report results promptly after recent data breaches. Cybersecurity: A string of cyberattacks has targeted non-customer-facing systems at major banks, prompting coordinated on-site inspections and threat intelligence sharing by regulators and security agencies.