Data Information Security

In a digital finance environment, data is a company's core asset, and if it is not properly managed, it can become a legal and financial risk that threatens the company's survival.

① The Rise and Risk of Cyberattacks

② Economic Loss and Decline in Corporate Trust

③ Regulatory Compliance and Legal Liability

Malware allows unauthorized users to access financial systems or internal networks, and it can damage customer account information, transaction records, and internal documents.

From the perspective of financial service operations, it directly affects customer trust and service stability through account takeover, system failure, and transaction delays.

Ransomware infects an organization's devices and encrypts data to restrict access.

In a financial service environment, if customer transaction data and financial records are encrypted, an immediate work stoppage can occur.

Even if the monetary demand is met, the risk of data loss remains.

A phishing attack is an attempt to steal the login credentials and financial information of employees or customers by impersonating a financial institution or service.

An attacker may disguise themselves as a legitimate user to attempt account access, data leakage, or transaction manipulation, and this threatens the trust and safety of digital financial services.

A DDoS attack disrupts the provision of services by overwhelming the resources of websites, servers, and financial applications.

In a digital finance environment, it can lead to transaction delays, interruption of mobile banking services, and customer complaints, so advance preparation and a response system are indispensable.

In a digital finance environment, advance preparation plays a central role in helping companies safely protect data and financial transaction systems.

To this end, a company should first organize its internal management plan and personal information processing policy based on relevant laws such as the Personal Information Protection Act and the Credit Information Act, and review them regularly so that they align with actual operations.

Separation of financial networks, security reviews of cloud services, and management of consignment relationships are also important elements, and a company should conclude a data processing agreement (DPA) with external service providers or consignees to clarify responsibilities and the scope of processing.

Through these measures, a company can demonstrate that it exercised reasonable due care if an incident occurs.

Even in day-to-day operations, a company should minimize security blind spots through continuous monitoring.

A company should apply the principle of least privilege for each job function, regularly review account and access logs, and operate a system that immediately blocks the access rights of departing employees or those who transfer to other departments.

It also matters that, when pursuing new business or using data, the company review the possibility of re-identification in advance when combining data so as to minimize legal risk, and that it prevent information leaks caused by human error through regular security training for staff, written pledges, and compliance with internal regulations.

If a data information security incident occurs, a company should have an immediate response system in place to minimize legal liability and damage.

When a data breach or hacking incident occurs, the company must promptly carry out the procedures to report to the financial authorities within 72 hours under the Personal Information Protection Act and to notify customers, and it matters that the company systematically retain the relevant records and inspection logs that can prove it took reasonable security measures at the time of the incident.

This can help secure the possibility of a reduced penalty surcharge or exemption based on absence of fault, and the company should also be able to respond promptly to legal situations such as filing criminal complaints against external attackers and cooperating with investigations, responding to the Personal Information Dispute Mediation Committee, and addressing class actions.

Finally, a data information security response system is not something that is built once and then complete; it requires continuous improvement.

After an incident occurs, the company should analyze the cause and reflect improvement measures to prevent recurrence in its policies and operating procedures.

By strengthening internal response capabilities through regular security inspections and mock drills, a company can reliably protect customer data and financial transactions in the digital finance environment.

We review whether all data-related activities operated by a company, such as financial transaction systems, personal information processing, cloud services, and external outsourcing, comply with relevant regulations including the Personal Information Protection Act, the Credit Information Act, and the Electronic Financial Transactions Act.

Through this, we identify legal risks in advance and prepare a basis for response in the event of a Financial Supervisory Service audit, an investigation, or a dispute.

We review the design and operational adequacy of policies such as the personal information processing policy, internal management plan, and data governance framework, and we provide improvement advisory so that they align with actual operations.

We also review the legal validity of information management rules covering data classification, storage, access, and deletion, so that a company can prove it fulfilled its duty of reasonable care during an audit or investigation.

When incidents such as data breaches, hacking, ransomware, and DDoS occur, we design the procedures for legally required reporting, customer notification, and reporting to the financial authorities, and we review the response system through mock drills.

We help a company systematically retain incident records and logs so that they can be used as a legal defense basis for matters such as a reduced penalty surcharge, exemption based on absence of fault, and responding to class actions.

We design activities to prevent human error, such as regular security training for staff, collecting written pledges, and mock phishing tests, and we document security responsibilities.

After an incident occurs, we analyze the cause and reflect measures to prevent recurrence in policies and operating procedures, and we support continuous improvement activities such as regular security inspections, external audits, and certification preparation, so that a company can reliably operate digital finance services.