Financial Information Leakage Response Task Force

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The prosecutors arrested the suspects of the recent private information leakage incident and concluded that there will be no further external information leakage of the three card companies’ customers. The government recognized the urgency to devise fundamental and detailed measures to respond to and prevent the accident.

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Based on such recognition, the FSC formed a task force dedicated to preparing plans to strengthen financial consumer information protection. The task force is comprised of experts from the Ministry of Security and Public Administration, Korea Communications Commission, Financial Supervisory Service and other responsible agencies.

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FSC Vice Chairman Jeong Chan-woo urged the participants to discuss fundamental measures to prevent such accidents from happening again by thoroughly analysing the cause. Moreover, he asked to review matters related to financial institutions’ internal control and responsibility of the CEOs. In particular Vice Chairman Jeong emphasized the Financial Supervisory Service’s role in preemptively responding to prevent further damages.

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