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South Korean Bank Reports Customer Data Leak After Cyberattack
(MENAFN) Personal information belonging to thousands of South Korean bank customers was exposed after a cyberattack, according to reports.
Shinhan Bank said data from around 25,000 customers was compromised a day earlier, including their names, telephone numbers and annual income information.
The Financial Supervisory Service launched an on-site investigation at the bank on Thursday to examine the circumstances surrounding the breach.
Shinhan said it had taken “emergency steps to minimize potential damage from the leak.”
South Korea has faced several major personal data breaches in recent months, prompting authorities to strengthen penalties against those responsible.
Under revisions to the Personal Information Protection Act, companies found responsible for leaks affecting 10 million or more people could face fines equivalent to as much as 10% of their total revenue.
Earlier this year, South Korea’s Personal Information Protection Commission imposed a fine of about 54 billion won ($37.43 million) on telecom operator KT Corp. over the exposure of customer information between 2024 and 2025.
Reports also indicated that personal data breaches affected around 48 million people in South Korea last year, with the majority of incidents occurring in the private sector.
Shinhan Bank said data from around 25,000 customers was compromised a day earlier, including their names, telephone numbers and annual income information.
The Financial Supervisory Service launched an on-site investigation at the bank on Thursday to examine the circumstances surrounding the breach.
Shinhan said it had taken “emergency steps to minimize potential damage from the leak.”
South Korea has faced several major personal data breaches in recent months, prompting authorities to strengthen penalties against those responsible.
Under revisions to the Personal Information Protection Act, companies found responsible for leaks affecting 10 million or more people could face fines equivalent to as much as 10% of their total revenue.
Earlier this year, South Korea’s Personal Information Protection Commission imposed a fine of about 54 billion won ($37.43 million) on telecom operator KT Corp. over the exposure of customer information between 2024 and 2025.
Reports also indicated that personal data breaches affected around 48 million people in South Korea last year, with the majority of incidents occurring in the private sector.
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