Lotte Card reported a cyber breach affecting 9.65 million individual customers. Financial regulators ordered the company to establish a dedicated call center for victims and to prepare procedures for full compensation in cases of fraudulent card use. The Financial Supervisory Service activated its emergency response system and launched an on-site investigation with the Financial Security Institute after receiving the report. The FSS governor instructed executives to implement consumer protection measures aimed at reducing harm and reassuring customers while investigators determine whether personal information was leaked. The regulator also directed enhanced monitoring of suspicious transactions and readiness to reimburse unauthorized charges.
Financial regulators have ordered Lotte Card to set up a dedicated call center for victims of a recent hacking incident and to prepare procedures for full compensation in cases of any fraudulent card use. The order comes after a cyber breach was reported at the company with 9.65 million individual customers. The Financial Supervisory Service (FSS) said Tuesday that Gov. Lee Chan-jin had instructed executives during a morning meeting to implement consumer protection measures in response to the breach.
The aim is to reduce harm and reassure customers while the agency investigates whether any personal information was leaked. The FSS first activated its emergency response system. The agency received a report from Lotte Card about the incident on Tuesday and launched an on-site investigation with the Financial Security Institute on Tuesday. The regulator also directed Lotte Card to strengthen the monitoring of suspicious transactions and prepare procedures to fully reimburse customers in cases of unauthorized use.
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