[ISN] 'Banks unaware of data outsourcing risks'

From: InfoSec News <alerts_at_private>
Date: Mon, 18 Apr 2011 03:09:45 -0500 (CDT)
http://www.koreatimes.co.kr/www/news/biz/2011/04/123_85363.html

By Kim Tong-hyung
Korea Times
04-17-2011

Korea, a country fascinated with e-this and e-that, touts itself as the 
planet’s information technology (IT) capital. But the self-awarded title 
is beginning to look ironic as the ineptitude of banks and other 
financial companies in cyber security has customers wondering whether 
their money will be safer in a shoebox.

The alarm over information protection has been growing after the 
financial sector was rocked by a series of network-related incidents 
that exposed financial companies’ vulnerability to cyber criminals and 
their lax approach to data management.

A massive security breach at Hyundai Capital, the consumer finance unit 
of auto giant Hyundai-Kia Automotives, compromised the data of more than 
420,000 customers, including 13,000, who had their passwords stolen.

And many of the 30 million customers of NH Bank, the financial services 
unit of the National Agricultural Cooperative Federation, or Nonghyup, 
were prevented from online and automated teller machine (ATM) 
transactions for more than four days after the company’s computer 
network crashed.

[...]


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Received on Mon Apr 18 2011 - 01:09:45 PDT

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