finregulation

South Korea’s Financial Services Commission is proposing tighter cybersecurity rules for banks and crypto firms after a review found security weaknesses at 130 out of 555 financial companies. The review followed incidents at 16 firms, including the exchanges Streami and Prabang, where an Oct. 2 hack exposed personal data. The FSC said about 100,000 customer records—names, contacts and ID numbers—were leaked across the affected firms. Under the plan, larger institutions would get vulnerability assessments at least twice each year, while smaller firms could see AI‑assisted monitoring and extra inspections when urgent threats appear. The regulator also wants better information sharing and is still checking whether the attacks used AI or came from the same source.

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