(follow-up) Kr: Regulator plans to discipline Hyundai Capital over hacking
A Hyundai Capital data breach disclosed in April is resulting in consequences from South Korea’s financial regulator. Yonhap News Agency reports:
South Korea’s financial regulator decided Wednesday to punish Hyundai Capital Services Inc. for lax computer system maintenance, which led to a major hacking attack at the biggest local consumer finance firm.
The Financial Supervisory Service (FSS) launched an inspection into Hyundai Capital on April 11 after a hacker broke into Hyundai Capital between March 6 and April 7, stole personal customer information and demanded cash from the company, threatening to leak it on the Internet.
Holding Hyundai Capital accountable for negligence in computer system security management, the FSS will submit the case to its disciplinary decision committee to decide on the punishment for Hyundai Capital and its executives, according to the regulator.
The FSS said data on 1.75 million Hyundai Capital customers was leaked during the attack, in which the hacker implanted a malicious program on the company’s computer server and was able to download the personal data, more than the 420,000 customers initially stated by Hyundai Capital.
Read more on Yonhap News Agency.
It will be interesting to see what the consequences are to Hyundai, as the regulator is also apparently considering whether to penalize Chung Tae-young, the CEO of Hyundai Capital. Can you imagine if corporate heads in the U.S. were penalized personally for a data breach or lax security? Wow…
Two suspects in the hacking incident were arrested in April.
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