SEOUL, August 21 (AJP) - South Korea’s top financial regulator has begun on-site inspections of companies struck by recent ransomware attacks, as concerns mount over the security of consumer data in the country’s financial sector.
The Financial Supervisory Service dispatched examiners to SGI Seoul Guarantee, the nation’s leading guarantee insurance provider, and to Welrix F&I Loan, a lending affiliate of Welcome Financial Group, according to industry officials, Thursday. Both companies were targeted by overseas hackers in recent weeks.
The attack on SGI Seoul Guarantee last month disrupted parts of its computer systems, prompting what the regulator described as a “comprehensive field inspection.” Investigators are also scrutinizing other Welcome Financial Group subsidiaries for possible fallout from the breach at Welrix F&I Loan.
A central question is whether sensitive personal information was exposed.
Welrix, which specializes in purchasing and collecting nonperforming loans from Welcome Savings Bank and other lenders, holds data on lower-credit borrowers who could be especially vulnerable if details were leaked.
Welcome Financial Group has said that, so far, no personal information has been confirmed compromised. The company maintains the breach stemmed from an employee’s personal computer and affected only meeting materials, not customer data. It also emphasized that major units such as Welcome Savings Bank operate on separate servers untouched by the attack.
Still, the Russian hacking group behind the intrusion claimed on the dark web that it had exfiltrated more than one terabyte of internal company files, accusing Welcome Financial of “irresponsibility” in safeguarding critical information.
Another group that targeted SGI Seoul Guarantee has warned it will soon release stolen data, citing a lack of resources to review the trove itself.
Regulators are expected to examine whether SGI Seoul Guarantee complied with electronic financial supervision requirements.
reporter
Candice Kim
candicekim1121@ajupress.com
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