Browsing: Shinhan

Add preferred source Shinhan Bank, which suffered a data breach exposing the personal information of 25,000 customers, allocated the smallest information security budget among South Korea’s five major commercial banks this year, according to data obtained by lawmaker Park Dae-chul from the Financial Supervisory Service. Shinhan’s information security budget for this year totaled 40.591 billion…

SEOUL: Advanced artificial intelligence (AI) tools may have been used in a cyberattack on South Korea’s Shinhan Bank Co that exposed information on about 25,000 customers, Yonhap News reported, highlighting the risk of automated hacking against financial institutions.

A series of data breaches at Shinhan Bank, KB Kookmin Bank and Hana Bank, three of Korea’s largest commercial banks, has heightened concerns in the financial sector over increasingly sophisticated cyberattacks using artificial intelligence (AI).