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posted by Dopefish on Tuesday February 18 2014, @10:30AM   Printer-friendly
from the ensuring-fairness-and-safety dept.

Papas Fritas writes:

"Michael Kitchen at Marketwatch reports that when companies in the US are hacked for customer information they often seem to react to such thefts with little more than a sigh and a shrug if they even report it at all. But in South Korea, they don't mess around with ID theft.

South Korea's financial-services regulator announced Sunday that three firms which suffered the theft of consumers' data last year would be barred from issuing any new credit cards or extending any loans for three months. In addition, the executives at the companies involved showed their contrition by going before television cameras and making deep bows and personal apologies. Some executives reportedly resigned over the incident, even though the alleged ID thieves were caught and arrested. The South Korean Financial Supervisory Commission (FSC) said the companies had 'neglected their legal duties of preventing any leakage of customer information.'"

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  • (Score: 2, Interesting) by BsAtHome on Tuesday February 18 2014, @12:05PM

    by BsAtHome (889) on Tuesday February 18 2014, @12:05PM (#1549)

    You actually highlight the real problem here: "Piss off the wrong people, and...".

    That statement highlights the double standards employed. It should not matter *who* you piss off. Each instance must be handled in the same way. When not, social unrest is pre-programmed.

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  • (Score: 1) by girlwhowaspluggedout on Tuesday February 18 2014, @12:36PM

    by girlwhowaspluggedout (1223) on Tuesday February 18 2014, @12:36PM (#1560)

    TBH, I have no familiarity of South Korean culture or its criminal justice system, so there is always the chance that they do not employ such double standards. OTOH, South Korea's culture of strict hierarchical deference, so to speak, which is well known due to its disastrous effects [] on airline safety [], leads me to suspect they're just as bad as the rest of us.

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