Business · Singapore Bureau
AI tools suspected in major Shinhan Bank data breach affecting South Korea
Hackers appear to have leveraged artificial intelligence tools in a cyberattack on South Korea's Shinhan Bank, exposing sensitive customer financial information. The breach compromised names, phone numbers, annual income figures and borrowing limits of an undisclosed number of customers.
LSN Singapore ·
South Korean authorities are investigating a significant data breach at Shinhan Bank, with preliminary findings suggesting attackers may have employed artificial intelligence tools to penetrate the institution's systems, according to reports from Yonhap News Agency. The incident marks another high-profile cybersecurity incident targeting one of South Korea's major financial institutions.
The compromised personal information includes customer names, contact phone numbers, annual income data and borrowing limits. Investigators have not yet disclosed the full scale of the breach or confirmed the exact number of affected customers. The suspected use of AI in the attack points to an evolving threat landscape where sophisticated technology is increasingly weaponised in financial sector cyberattacks.
Shinhan Bank, one of South Korea's largest banking groups, has not issued an official statement regarding the incident at the time of reporting. The bank's response protocols and coordination with financial regulators remain unclear. South Korea's Financial Supervisory Service is expected to launch a formal investigation into the breach and assess the bank's security defences.
The incident underscores growing vulnerabilities in the financial sector as cyber threats become more advanced and targeted. Banks across Asia have faced increasing pressure to strengthen cybersecurity infrastructure as attacks grow in sophistication and frequency.