Financial authorities step up efforts to prevent further data leaks in wake of breachUpdated: 2014-01-24 16:10:05 (KST)
Korea's financial authorities have pledged to step up their crackdown on credit card verification companies and brokers to prevent further distribution of personal information stolen from banks following the worst data leak in Korea's history.
They also said they would issue harsh punishments to credit card companies that take advantage of the recent breach to attract new customers.
The regulators say anyone found to have leaked personal data in the future could be sentenced to up to five years in prison and fined 50-million won, or 46-thousand U.S. dollars.
The authorities also plan to launch a center, with the help of related government offices, whose mission will be to prevent the stolen data from falling into the wrong hands.