The increasing use of artificial intelligence (AI) in cyber attacks has raised alarms about the protection of personal information and consumer security in the financial sector. Following a series of cyber attacks targeting domestic banks, financial authorities have urged heightened vigilance against secondary damages such as voice phishing and smishing that exploit personal data leaks.
According to Reuters, on October 9, examples of cyber attacks in South Korea and Japan were reported, highlighting how AI can automate tasks necessary for hacking, thereby increasing the speed and efficiency of attacks.
As of now, nine domestic banks are investigating potential involvement of AI tools in recent cyber attacks.
Authorities have warned that leaked personal information could be misused in additional crimes such as voice phishing and smishing, emphasizing the need to prevent secondary damage.
They also cautioned against tactics that prompt individuals to click on links in messages claiming to verify data leaks or provide compensation.
On October 6, the Korea Internet & Security Agency (KISA) issued a phishing alert regarding the misuse of personal data leaks in the financial sector. The agency explained that messages impersonating compensation notifications could lead to phishing sites or the installation of malicious applications.
To reduce the risk of falling victim to financial scams, it is advisable to follow the prevention guidelines provided by financial authorities and KISA.
- First, do not click on links in messages claiming to verify personal data leaks or compensation. If a message appears to be from a financial institution or public agency, verify its authenticity through the official website or app, rather than the contact information provided in the message.
- Second, be suspicious of requests for advance payments, repayment of existing loans, or installation of apps from unknown sources. The Financial Services Commission has identified these as major warning signs of loan scams. It is also advisable not to comply with requests for remote access app installations from government agencies or financial companies via phone or text.
- Third, never share your passwords or authentication codes with others. Avoid entering your ID, password, or personal information through links received via text or messenger, and confirm the purpose of any requests for authentication codes. If you use the same password across multiple sites, it is recommended to set different passwords for each site and enable multi-factor authentication where available.
- Fourth, utilize financial security services to prevent account and identity theft. The Financial Services Commission advises enrolling in transaction blocking services and registering with systems designed to prevent identity theft-related financial fraud. However, it is important to check the scope and usage of each service before applying.
If you receive suspicious messages, do not click on any links and consider using KISA's smishing verification service, which allows users to check if received messages are malicious.
If you suspect that you have clicked on a malicious link or installed a harmful app, cease any further personal information input or financial transactions, and contact the official customer service of your financial institution to check for any irregularities with your account and authentication methods. If you experience any damage, report it immediately to the relevant financial institution and authorities, and take necessary actions such as changing passwords and checking your devices.
* This article has been translated by AI.
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