Insider Steals, Sells Data On 20M Korean Cardholders

Law360, New York (January 21, 2014, 5:17 PM EST) -- South Korean regulators livid over a data theft that exposed sensitive information on an estimated 20 million payment-card account holders vowed Friday to crack down on security weaknesses in the consumer banking sector.

South Korea’s top financial watchdog, the Financial Services Commission, created a task force on cybersecurity in response to revelations late last week that data on more than 100 million individual credit and debit accounts had been stolen from the internal servers of three of the nation’s largest card issuers.

Officials called the incident...
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