South Korea's Financial Services Commission will hold a financial security meeting on November 5, involving banks and crypto asset exchanges

According to TechFlow, on November 1, citing South Korea's News1, Financial Services Commission Chairman Lee Eog-won will convene a meeting on November 5 to address AI security threats in the financial sector, bringing together presidents of South Korea's five major commercial banks, heads of key financial industry associations, and representatives of the Digital Asset Exchange Association (DAXA) to discuss measures against hacking and AI security risks in the financial industry

The meeting will focus on preventing AI-powered hacking attacks, identifying and responding to AI voice phishing, and building new cybersecurity systems, while reviewing previously required security enhancement measures for financial institutions

The report said South Korea has recently seen multiple cybersecurity incidents affecting financial institutions, with the number of affected institutions rising to 20 across banking, securities, insurance, and crypto asset industries. Among them, three virtual asset service providers, including Bithumb and Streami, were included in the list of affected institutions

Source: TechFlow