Financial regulators outline customer data protection plans at National AssemblyUpdated: 2014-01-23 14:39:55 (KST)
In the wake of Korea's worst-ever personal data breach, the two chairmen of the nation's financial regulators appeared at the National Assembly to outline their plans for handling the crisis.
At the parliamentary policy committee on Thursday, Shin Je-yoon, the chairman of the Financial Services Commission, said the regulator will strengthen monitoring of staff at financial firms who deal with data protection and their contractors, and consider whether top executives at financial firms should face suspension or dismissal.
Choi Soo-hyun, the governor of the Financial Supervisory Service, said more than 2 million cardholders have canceled their credit cards or applied for new ones since Monday.
The three card firms in question are running a 24-hour hotline in conjunction with the F-S-S to respond to further reports of damages.
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