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South Korean Companies Banned from Issuing New Cards After Data Breach [WSJ]

17
Feb
2014

In January, we learned that an engineer from the Korea Credit Bureau (KCB) stole and sold the personal and financial details of 20 million people. The South Korean Financial Supervisory Commission (FSC) has decided to suspend the firms from which the data has been stolen.

KB Financial Group, NongHyup Financial Group and Lotte Group are not allowed to issue new cards until May 16, 2014, the Wall Street Journal reports. Each of them will also have to pay a fine of 6 million KRW ($5,…

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