Data Privacy

Revolut to Refund ID Costs After Massive Data Breach
Digital & Technology Revolut to Refund ID Costs After Massive Data Breach

Italy's interior minister has publicly questioned the bank's verification procedures, suggesting that a simple follow-up phone call to the requesting authority could have prevented the massive data leak. This critique comes in the wake of a sophisticated security incident that compromised

How Can Mobile Apps Put Your Bank Account at Risk?
Regulatory & Compliance How Can Mobile Apps Put Your Bank Account at Risk?

Flashlight and QR-code scanner apps frequently request access to contacts and text messages that have absolutely no relevance to the actual functionality of the software. This glaring discrepancy serves as a primary indicator that a mobile device has become a staging ground for a sophisticated

AI Agents Breach South Korean Financial Institutions
Regulatory & Compliance AI Agents Breach South Korean Financial Institutions

Authorities are now tracking the use of proxy servers located in Japan, the United States, and Hong Kong to identify the perpetrators behind the autonomous attack. This massive cybersecurity crisis has fundamentally altered the landscape of digital finance in South Korea, following the confirmation

Will Shinhan Bank Face Legal Action After Its Data Breach?
Regulatory & Compliance Will Shinhan Bank Face Legal Action After Its Data Breach?

By focusing on the exposure of 25,000 customers, the pending lawsuit aims to hold Shinhan Bank accountable for its perceived lack of transparency after the incident. This legal development emerges at a time when the sanctity of personal financial data is under unprecedented threat, transforming a

Why Do Consumers Hesitate to Adopt Open Banking Apps?
Digital & Technology Why Do Consumers Hesitate to Adopt Open Banking Apps?

Automated systems and unresponsive customer support are primary drivers of frustration for users who encounter errors during sensitive financial transactions. This observation lies at the heart of a recent, massive analysis published in the journal Neural Computing and Applications, which examined

How Will Shinhan Bank Recover From This Major Data Leak?
Regulatory & Compliance How Will Shinhan Bank Recover From This Major Data Leak?

Financial regulators from the Financial Supervisory Service have initiated a rigorous on-site investigation into how an outsider bypassed authentication at Shinhan Bank to access 25,000 records. This security failure occurred between October 29 and the early hours of October 30, exposing the

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