Adding to the long list of insecure banking and payment systems in Korea, POS (Point Of Sale) terminals were recently hacked. 200,000 credit card users had their information stolen last Friday. As a result, $115,000USD in 268 transactions was stolen. If you bank in Korea, ensure that you’re enrolled in (free) mobile phone transaction notification via SMS.
Long lines are forming at bank branches as people try to cancel their credit cards. The leaked data comes from three credit card companies: KB Kookmin Card, NH NongHyup Card and Lotte Card. Many people are complaining about poor customer service as the website servers are overloaded and bank lines are extremely long. Foreigners are complaining that they’re received no information at all about the breach. Continue reading