Financial institutions bolster security measures against possible hacking from the North

北 사이버 테러 대비 금융사 현장 점검
The South Korean financial sector is also on high alert against a potential large-scale cyber attack by North Korea, although financial and intelligence officials say there haven’t yet been any damage to the greater public.
Seoul’s financial authorities have opened up emergency check ups across major institutions, while private banks have bumped up their own security measures.
Oh Soo-young reports.
South Korea’s banking sector is bolstering security measures to safeguard internal networks in the face of potential cyber attacks from North Korea.
The South Korean Financial Supervisory Service said Wednesday that it has launched emergency data system check-ups across 16 major financial institutions in the country.
A group of IT specialists will evaluate whether defensive measures are soundly in place.

“Most security breaches are caused by malicious coding,… so we need to make sure that antivirus software is up to date and can detect any suspicious IP addresses… ”

Aside from governmental efforts, private banks have also been enhancing protective measures, following the North’s nuclear test in January and its rocket launch last month….
Most banks have enforced in-house monitoring systems around the clock and installed extra data protection programs in internal networks.
With these measures, financial authorities hope to diminish the chances of North Korean hackers infiltrating into their systems.

“As of now, online network monitoring, antivirus software updates as well as internal network control are sufficiently being enforced… So rather than implement new measures, it’s a matter of ensuring the current system is upheld.”

However, the expert added that additional efforts are needed to protect banking information on an individual scale,… especially when shopping or transferring money online.
Keeping antivirus software updated and avoiding the use of WIFI networks when carrying out bank transactions online… are some of the steps recommended by financial security experts.
To discuss further countermeasures against possible cyber attacks on the financial system, the country’s financial authorities will convene at a meeting on Thursday.
Oh Soo-young, Arirang News.

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