Korea's bank hacking cases may move to serious crimes agency

What happened: South Korean police plan to refer hacking cases involving major banks and other financial institutions to the newly established Serious Crimes Investigation Agency after identifying suspected violations of Why it matters: The decision centers on whether the targeted systems qualify as electronic financial infrastructure, and the Financial Services Commission advised they could fall under the Electronic Financial Transactions Act. The incidents have raised concerns about cybersecurity at South Korea's major financial institutions and prompted a broader review of the sector.

South Korean police plan to refer hacking cases involving major banks and other financial institutions to the newly established Serious Crimes Investigation Agency after identifying suspected violations of

The decision centers on whether the targeted systems qualify as electronic financial infrastructure, and the Financial Services Commission advised they could fall under the Electronic Financial Transactions Act. The incidents have raised concerns about cybersecurity at South Korea's major financial institutions and prompted a broader review of the sector.