Shinhan Bank and Hana Bank have decided to provide VIP-level financial benefits to all customers whose personal information was leaked in a recent hacking incident, regardless of whether they suffered actual damage. KB Kookmin Bank is also reviewing compensation measures. This shift comes after lawmakers criticized the banking sector's passive approach to damage compensation during a National Assembly audit.
According to the banking sector on October 20, Shinhan Bank will enroll all 25,000 customers affected by the data breach in a financial crime compensation insurance plan. The coverage limit is set at 10 million won per person for one year, with the bank covering the insurance premiums. The bank will also offer various fee waivers and preferential exchange rates, along with dedicated service counters and staff.
Hana Bank will elevate the status of all 89 customers whose information was leaked to VIP. As a result, fees for remittances, ATM usage, and one-time password (OTP) issuance will be waived. The bank will also support enrollment in financial identity protection services, which include blocking credit information inquiries and fraud insurance.
The measures taken by both banks differ from previous post-incident compensation approaches, as they provide benefits regardless of whether secondary damage occurs. However, direct cash compensation is not included.
KB Kookmin Bank is also considering compensation plans for customers affected by the data breach, but specific details have yet to be finalized. Busan Bank is maintaining its existing principle of reviewing causality for compensation in the event of secondary damage.
In the online investment-linked finance sector, cash compensation proposals have emerged. According to materials obtained by lawmaker Park Jun-tae, PFCT plans to pay up to 20,000 won to 302 customers whose information was leaked by November and is also considering enrolling them in fraud compensation insurance. Mowda will provide 3,000 points to affected customers and fully compensate for any damages incurred.
Examples of banks like Yegaram Savings Bank and Welcome Savings Bank, which had information from approximately 40,000 customers leaked, are also preparing compensation plans.
* This article has been translated by AI.
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