arirang news

The World On arirang

WED, 2015-09-02 KST

arirang Head Menu

Three-month suspension of business at 3 card firms involved in data leak starts Updated: 2014-02-14 21:54:09 KST

Three months of not doing business.
That's the punishment KB Kookmin Card, NH Nonghyup Card and Lotte Card will get for their involvement in the biggest personal data leak in Korean history.
The Financial Supervisory Service said Friday a proposed suspension of business at the three companies will start Monday and continue to May 16th.
The main focus of the suspension is on banning the companies from taking on new customers.
Providing credit card loans and cash advances to new contractors will also be forbidden.
Existing customers, however, won't feel the effects of the ban, as they will be provided with financial services as usual.
The suspension will also exclude operations related to the public interest, such as the issuance of student identification cards.
In the end, the suspension is expected to cost the three companies 100-thousand clients a month and a combined 50 billion won, or 47 million U.S. dollars, during the three-month period.
An official at the Financial Services Commission referred to it as the harshest penalty the firms could have received, not only because of the losses incurred but because three months is the longest suspension allowed by law.
The suspension is expected to be finalized by the FSC at a meeting on Sunday, and in the coming month, the FSC will also consider recommendations for dismissals of CEOs and executives deemed responsible for the leak.
In related news, a suspension of telemarketing operations at financial and insurance companies, put in place as a preventative measure at the end of last month, was lifted on Friday, thanks to indemnity reports submitted by company executives.
Kwon So-a, Arirang News.
Reporter : amho88@naver.com

Comment

KOGL : Korea Open Government License
본 저작물 중 본문에 해당하는 뉴스 스크립트는 공공누리 제1유형-출처표시 조건에 따라 이용할 수 있습니다.
단, 영상 자료는 저작권 문제로 자유이용이 제한되니, 담당자에게 확인하여 주시기 바랍니다.
(국제방송교류재단 김형선 : ☎02-3475-5263)