Monday, January 20, 2014

Korea credit card firms apologize for data leaks

Three major South Korean credit firms have apologized for leaking the personal information of over 100 million customers.

Representatives of the firms made the apology at a joint news conference in Seoul on Monday.

South Korean prosecutors say the leaked data includes credit card numbers, expiration dates, and the names and phone numbers of some 105 million card holders. That's twice the country's population.

The prosecutors say an employee of an information security company who was assigned to the credit card firms sold the data after copying it onto a memory stick.

The credit card firms say there is no possibility of damage being caused by the leaks because the personal identification numbers and security codes on the cards were not stolen.

But the firms are receiving a flood of inquires from customers who want their cards reissued.

The data leak follows a similar incident involving major South Korean banks in December, leading to growing public frustration over the lack of supervision and preventative measures on the part of the government and financial institutions.