Wednesday, 22 January 2014
In South Korea, where an employee, who worked as a temporary consultant
at Korean Credit Bureau (KCB), stole
the financial and personal data belonging to users of at least 20 million, in a
country of 50 million citizens. According to Financial Supervisory Service (FSS) the data was
belonging to customers, celebrities and ministers whose name, phone numbers,
address, credit card, social security numbers, and other banking records have
been snatched from commercial banks, along with Kookmin Bank and Shinhan
Bank.
Actually, the employee and his manager was selling data to phone
marketing companies. Both the employee and managers who stole the data were
held guilty and arrested by respective authority.
After this mishap, credit card firms ensure their customers to pay for
any occurred loss and FSS said that regulators have started to dig into
security measures for affected credit card firms.
However, the parent firms have shown little interest in this mishap, and
held associated credit card firms responsible due to irresponsible data sharing
management among their affiliates.
We generally, believe that cyber crime is carried out by cyber criminals
or attackers but it is a red alert for banking and financial institutions and organizations
to keep watch over their inside threat also.
Before
this insider attack, in 2012, South Korean hackers hacked mobile operator company
as a result; 8.7 million customers suffered due to data breach. In the month of
December 2013, Citibank of Korea arrested one of its employees due to stealing
personal data of almost 34000 customers. Recent survey said that senior
managers are responsible for security breaches
in America.
