Company to be Disciplined for Lax Security
20 May 2011
The Korea Times reports that the Financial Supervisory Service (FSS) has announced that it will be taking disciplinary action against Hyundai Capital and its executives and employees, following allegations that the company failed to protect customer information from cyber criminals. Although no financial damage to customers has ensued, an FSS official reportedly said that action was necessary in view of “public concerns on the security of electronic financial transactions”. The FSS is also reportedly forming a task force to assess the financial sector’s information security practices.
The Korea Times: Hyundai Capital CEO may be disciplined (18 May 2011)
(Source: The Korea Times)