Korea Financial Security Institute Announces '2022 Digital Finance and Cybersecurity Issue Outlook'

Top 10 Issues in Digital Finance and Cybersecurity Released by the Financial Security Institute. Photo by Financial Security Institute

[Asia Economy Reporter Song Seung-seop] On the 16th, the Financial Security Institute announced the top 10 issues to watch in the fields of cybersecurity and digital finance for next year.

According to the Financial Security Institute, the top 10 issues were selected through various stakeholders, including industry practitioners responsible for digital finance security at financial companies, experts from industry and academia, and overseas research institutions.

In the field of cybersecurity, the introduction of a "Zero Trust Strategy," which does not immediately trust even internal access users and requires verification procedures, was highlighted. Also selected were the establishment of next-generation security environments utilizing artificial intelligence (AI) technologies, operational resilience to continuously provide services in disaster or interruption situations, and the "third-party risk" arising from increased use of third parties such as cloud service providers and fintech companies.

In digital finance, attention was paid to changes in the financial ecosystem, such as the increase in digital assets and the growing use of metaverse in the financial sector. It was viewed that efforts should be made to minimize security threats that may arise from this new wave and to prevent various crimes, including new types of financial fraud. Additionally, the report analyzed issues such as work automation and risk management using AI technology, data polarization problems caused by increased data utilization, and evolving security threats due to financial platformization.

The Financial Security Institute plans to deliver a keynote speech and disclose detailed materials at the financial information protection conference "PeaceCon 2021," which will be held both online and offline on the 23rd.

Kim Young-gi, President of the Financial Security Institute, emphasized, "To safely protect the public’s financial assets and data from risks that may arise during the digital transformation of finance, strengthening security capabilities is essential," adding, "We will actively support financial companies in providing convenient and secure services and in improving financial security regulations and policies suitable for the digital finance era."

This content was produced with the assistance of AI translation services.