By Choi Kyong-ae
The Financial Supervisory Service (FSS) said Tuesday it will impose disciplinary measures on Standard Chartered Bank Korea later this month because of data theft.
The FSS has been investigating the bank since early this year after employees' stole customer information for their own use.
"Executives at Standard Chartered Bank may be given a caution for the theft of data on 94,000 customers between November 2011 and February 2012," an FSS official said by telephone.
The executives subject to any possible penalties do not include the current President and Chief Executive Ajay Kanwal but his predecessor Richard Hill who was in charge of the bank during the data theft, the official said asking not to be named.
Recently, Standard Chartered reported an additional theft of 11,000 customers' information to the FSS.
The information includes names, national identification numbers, mobile phone numbers, email addresses, annual income, number of credit cards, and records of delayed payments, according to the FSS.
Starting from June 5, Standard Chartered began to send notices to affected customers through registered mail to make sure they can change their access codes or account numbers, a bank spokesman said.
"We are strengthening internal security to ensure no similar incidents occur. We have reviewed all employees in the past three years to look into whether they used any customer information to make profits," the spokesman said.
Citibank Korea also faces sanctions for information theft.
"Top officials at Citibank may also face a warning for their mismanagement in a similar theft of 34,000 customers' data in April last year," the FSS said.
The Financial Supervisory Service (FSS) said Tuesday it will impose disciplinary measures on Standard Chartered Bank Korea later this month because of data theft.
The FSS has been investigating the bank since early this year after employees' stole customer information for their own use.
"Executives at Standard Chartered Bank may be given a caution for the theft of data on 94,000 customers between November 2011 and February 2012," an FSS official said by telephone.
The executives subject to any possible penalties do not include the current President and Chief Executive Ajay Kanwal but his predecessor Richard Hill who was in charge of the bank during the data theft, the official said asking not to be named.
Recently, Standard Chartered reported an additional theft of 11,000 customers' information to the FSS.
The information includes names, national identification numbers, mobile phone numbers, email addresses, annual income, number of credit cards, and records of delayed payments, according to the FSS.
Starting from June 5, Standard Chartered began to send notices to affected customers through registered mail to make sure they can change their access codes or account numbers, a bank spokesman said.
"We are strengthening internal security to ensure no similar incidents occur. We have reviewed all employees in the past three years to look into whether they used any customer information to make profits," the spokesman said.
Citibank Korea also faces sanctions for information theft.
"Top officials at Citibank may also face a warning for their mismanagement in a similar theft of 34,000 customers' data in April last year," the FSS said.
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