An analysis found that Chinese-made artificial intelligence (AI) was used in a hacking incident targeting Korea’s financial sector, including major domestic banks. It is also the first case of an intrusion into a financial system using AI.
An ATM at a commercial bank in Seoul. /Courtesy of News1
On the 6th (local time), the Wall Street Journal (WSJ), citing officials, reported that “hackers used Chinese-made AI to attack Korea’s largest banks and stole the personal information of 60,800 people.”
The WSJ also said, “This is one of the first AI-based intrusions into the global financial system.”
Police recently formed a dedicated investigation team and launched a formal probe into the hacking incident at domestic commercial banks. They designated the Cyberterrorism Investigation Unit as the dedicated team, appointed the cyberterrorism response section chief as Head of Team, and plan to conduct an intensive investigation with four teams totaling 28 members.
Recently, major commercial banks including Shinhan Bank, KB Kookmin Bank, Hana Bank, and BNK Busan Bank, as well as savings banks and capital companies, suffered personal information leaks.
However, the banks said the hacking targeted internal mobile sales support systems for employees. They explained that it was unrelated to customer financial transaction services such as internet banking and mobile banking.
Regarding the latest hacking in the domestic financial sector, the WSJ said, “Investigators found traces of a cybersecurity tool developed in China called ‘Artex AI.'”
It added, “This latest incident shows that even well-secured targets can be vulnerable to hackers using free AI tools.”
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