South Korea plans to comprehensively upgrade financial cybersecurity, 130 institutions found to have security flaws.

PANews October 15 news, according to Cointelegraph, the South Korean Financial Services Commission (FSC) announced it will implement a stricter cybersecurity assessment system. A previous industry-wide review found that 130 out of 555 financial companies had cybersecurity deficiencies, involving the leakage of approximately 100,000 pieces of customer information (including names, contact details, and ID numbers). This rectification stems from an investigation into earlier security incidents at 16 companies (including several crypto exchanges). Affected institutions include Gopax operator Streami and crypto trading platform Prabang—the latter previously disclosed that a hacker attack on October 2 led to the leakage of some customers' personal information. The reform plan requires large financial institutions to undergo vulnerability assessments at least twice a year, and proposes strengthening information sharing, introducing AI monitoring for small and medium-sized companies, while allowing additional off-plan inspections when emergency threats arise. The FSC stated it is still investigating whether the incidents involved AI or were carried out by the same attacker.