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SUN, 2014-11-23  KST

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Government unveils measures to counter data leaks
Updated: 2014-01-22 15:19:54 KST

The government has unveiled a set of measures to deal with the worst personal data leak by financial institutions in Korea's history with millions of people affected.
The Financial Services Commission, Korea's financial watchdog, announced the measures Wednesday.
Financial institution staff will now face stronger punishments if client data is found to have been leaked.
Tougher regulations will be imposed on financial firms to prevent them from sharing client data with their affiliates.
The financial regulator also said financial institutions could be fined up to one-percent of their sales in the event of a data breach.

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