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2026-08-03 08:52:52 · pthandapani@vixio.com
Meta Id
3369540
Content ID
3378022
GUID
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TITLE: South Korea's Financial Supervisory Services Imposes Business Suspension and Fine on Lotte Card for Customer Data Breach BODY: On July 31, 2026, South Korea's Financial Supervisory Services (FSS) announced enforcement action against Lotte Card following a significant data breach. The FSS imposed a 1.5-month business suspension and a 5 billion won fine on the credit card company under the Specialized Credit Finance Business Act and the Credit Information Use and Protection Act. The enforcement action stems from a data breach that occurred in August 2025, when hackers accessed and exposed the credit information of approximately 2.97 million Lotte Card customers. The FSS determined that the company failed to adequately protect sensitive customer data, warranting disciplinary measures. The FSS will monitor the impact of the business suspension on financial consumers to ensure that the enforcement action does not create service disruptions for cardholders. The regulatory authority has committed to protecting financial consumers during the suspension period and will continue to assess any operational effects on the broader financial system. The FSS coordinated this action through its Small Finance Inspection Division III and Information Technology Inspection Division. REFERENCES: Financial Supervisory Services Press Release, July 31, 2026: "Lotte Card (Co., Ltd.) Information Breach Related 1.5-Month Business Suspension and 5 Billion Won Fine Imposed"
  • Scraped:2026-08-03 08:52:52
  • Created:2026-08-03 08:52:51
  • By:pthandapani@vixio.com (6)