Stories
Slash Boxes
Comments

SoylentNews is people

SoylentNews is powered by your submissions, so send in your scoop. Only 12 submissions in the queue.
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.'"

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 1) by cyrano on Tuesday February 18 2014, @06:33PM

    by cyrano (1034) on Tuesday February 18 2014, @06:33PM (#1784) Homepage

    Actually, security for banking is very, very, very bad, because every bank is legally forced to use SEED. Wiki link: http://en.wikipedia.org/wiki/SEED [wikipedia.org]

    This used to be an ActiveX component so the largest part of the Korean population is still on Windows XP and IE6. Even if the banks could serve a session to Firefox, not many people are using it.

    They are being hit very hard by the chicken and egg problem.

    In China, Windows XP is still gaining market share...

    --
    The quieter you become, the more you are able to hear. - Kali [kali.org]