Financial Supervisory Service Holds Emergency Response Review Meeting to Prepare for Cyber Threats

On the 18th, the Financial Supervisory Service and the Financial Security Institute announced that they held a 'Financial IT Emergency Response Inspection Meeting' on the 17th together with 457 financial companies to proactively respond to cyber threats.

This meeting was organized to ensure the safe operation of financial IT against external threats amid the increasing possibility of cyber crises such as hacking due to recent circumstances. Participants included banks, financial investment firms, insurance companies, savings banks, specialized credit finance companies, and electronic financial service providers.

According to the inspection results from the Financial Security Institute, the number of intrusion attempts from late November to early December recently decreased by approximately 17% compared to the same period last year, and no unusual signs of attacks such as hacking or DDoS have been detected so far.

The financial sector decided to maintain a response system to prepare for future emergencies, including ▲ inspecting their own emergency response systems for disasters and critical failures ▲ strengthening security monitoring against cyber threats such as hacking and DDoS ▲ maintaining response activities corresponding to the 'Caution' level of the financial IT crisis alert.

Additionally, the Financial Supervisory Service plans to establish an integrated control system by building information-sharing channels with related financial security organizations to enable rapid response in case of abnormal signs.

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