Authorities in South Korea are probing a large system failure at a popular bank, trying to determine whether the incident was an error or a cybercrime that could be repeated elsewhere in the country where business leans largely on electronic transactions.
Problems at the National Agricultural Cooperative Federation began on April 12 and lasted for several days. During that time, customers were blocked from online and automated teller machine transactions. While some services have returned, issues persist with access to credit card information.
The incident has generated 300,000 complaints and prompted pledges of compensation to the agricultural lender’s customers as its affected network gets up to speed again this week, local media said.
Read it all.
South Korea Probes Possible Cyberattack on Large Bank
Authorities in South Korea are probing a large system failure at a popular bank, trying to determine whether the incident was an error or a cybercrime that could be repeated elsewhere in the country where business leans largely on electronic transactions.
Problems at the National Agricultural Cooperative Federation began on April 12 and lasted for several days. During that time, customers were blocked from online and automated teller machine transactions. While some services have returned, issues persist with access to credit card information.
The incident has generated 300,000 complaints and prompted pledges of compensation to the agricultural lender’s customers as its affected network gets up to speed again this week, local media said.
Read it all.