According to the financial industry on Wednesday, the FSS confirmed the 4.5-month suspension in a sanctions review committee meeting held that day.
Lotte Card said about 2.97 million customers — roughly one-third of its total — had information exposed in a hack in September last year. Of those, 280,000 customers had key data leaked, including card numbers, expiration dates and CVC codes, creating a risk of fraudulent card use.
Earlier this month, the FSS gave Lotte Card advance notice of a sanctions package that included the 4.5-month suspension, a 5 billion won fine and personnel penalties.
The sanctions will be finalized after a vote at a regular meeting of the Financial Services Commission.
A Lotte Card official said the hacking case differs from a 2014 data leak involving an employee and called a business suspension for a hacking incident “an unprecedented level of sanction.”
The official said follow-up steps remain, including an FSC vote, and the company will explain its objections to what it views as an enhanced penalty, its post-incident response and that no secondary harm occurred.
* This article has been translated by AI.
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