Financial Sector Conducts Cyber Simulation Training with White Hackers... Response Capability Rated 'Good'

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The Financial Supervisory Service (FSS) and the Financial Security Institute conducted cyber simulation exercises targeting domestic financial companies in the first and second halves of this year, revealing that most financial companies possess sufficient capabilities to respond to external cyber threats.

On the 3rd, the FSS announced that it held two rounds of blind cyber simulation exercises this year in collaboration with the Financial Security Institute, involving white-hat hackers. The exercises targeted banks, securities firms, insurance companies, and card companies. In the first half of the year, six banks participated, while in the second half, 12 companies from the secondary financial sector and those related to generative AI took part. The exercises assessed response capabilities against various types of cyber threats, including server hacking, DDoS attacks, and generative AI (LLM) attacks.

During the exercises, some vulnerabilities were discovered in certain financial companies. In the case of Company A, a vulnerability allowing unauthorized file uploads to the web server was found, and Company B failed to respond adequately to a DDoS attack, resulting in service delays. These vulnerabilities were immediately addressed with corrective measures.

Notably, the second half exercises included an assessment of the security of LLMs planned for adoption in the financial sector. The Financial Supervisory Service stated that through this, improvements were identified to ensure that financial consumers can safely use generative AI services.

The Financial Supervisory Service shared the results of these exercises at a 'Cybersecurity Best Practices Briefing' for government ministries and announced plans to continuously expand and enhance blind-based exercises to respond to evolving cyber threats.

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