As suspected AI-driven hacking attacks target the financial sector, the authentication and access control methods employed by banks have come under scrutiny for their role in data breaches.
Woori Bank, which has not confirmed any data leaks, restricts access through work devices and additional authentication. NH Nonghyup Bank has strengthened its detection of unusual access and is checking for external exposure routes. In contrast, even banks that received top ratings in security assessments have experienced data leaks through their work systems, raising questions about the effectiveness of security measures in the banking sector.
According to the financial sector on October 5, recent data breaches linked to external hacking have been confirmed at Shinhan, KB Kookmin, and Hana Banks. While Woori and NH Nonghyup Banks also faced attempted attacks, no data leaks have been reported so far.
Woori Bank requires loan solicitors to input relevant information using a tablet device called ODS and undergo authentication via the 'WON Certificate' on their smartphones during login. The bank states that the structure, which involves work devices and separate authentication procedures, prevents typical external logins.
In response to the recent attacks, Woori Bank has blocked identified suspicious IP addresses and is reviewing past access attempts and potential data leaks. The bank is also using an external AI-based vulnerability assessment solution alongside its own tools to identify security weaknesses in its systems.
NH Nonghyup Bank has enhanced its detection of abnormal activities, such as authentication bypass and unusual mass access, and is continuously checking for vulnerabilities by blocking unnecessary external exposure points.
In the banks where data was leaked, the work systems used by loan solicitors and employees became the attack vectors. At Shinhan Bank, information was leaked through the mobile homepage 'M Shinhan,' where loan solicitors check the status of their submitted loans. KB Kookmin Bank experienced data loss due to abnormal access to its employee mobile support system, while Hana Bank faced leaks from its sales support system (ODS).
The breach of customer information from work systems, which are separate from customer financial transaction systems, has raised concerns about the security management of external access points. Experts argue that if there are pathways to access customer information, measures should not only include authentication at the access stage but also restrict viewing rights and detect and block repeated or mass queries.
Despite the emphasis on security systems in disclosures by major banks, the recent attacks have revealed gaps. Shinhan Bank reported receiving an S grade (100 points) for its 'Management and Protection of Personal Credit Information' in its semi-annual report for six consecutive years. KB Kookmin Bank highlighted additional authentication and access restrictions when accessing customer information, along with continuous monitoring of the entire process of personal data handling. Hana Bank stated that its group integrated security monitoring center operates 24/7. However, all three banks failed to prevent data leaks through their work systems, prompting calls for a review of whether the protective measures touted by the banking sector are effectively applied to external access points.
Financial authorities and experts emphasize the importance of how well multi-authentication systems, external exposure management, access rights restrictions, and data encryption are integrated. They stress that it is crucial to ensure these security measures operate seamlessly during actual access and information retrieval processes.
A financial authority official stated, 'The differences between companies depend on how organically they operate multi-authentication systems, physical barriers, access rights management, and data encryption.'
* This article has been translated by AI.
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