South Korea's Lee Says AI May Have Been Used in Bank Hacks

South Korean President Lee Jae Myung warned that recent bank hacking attempts might have been carried out using artificial intelligence.

The attacks hit multiple commercial banks, resulting in a leak of consumer personal information. South Korean authorities are already conducting a full-scale investigation into the events.

Lee highlighted the matter during a cabinet meeting on Tuesday. He stated that evidence of AI use has been discovered in certain hacking incidents and urged officials to investigate the matter as soon as possible.

He also asked for resources to be directed toward mitigating the harm caused by the assaults.

South Korea’s Lee seeks answers on AI bank hacks

Several well-known South Korean banks have reported cyber-attacks.

The Financial Services Commission announced on Friday that Shinhan Bank, KB Kookmin Bank, and other banks had reported assaults. Yonhap reportedly revealed intrusions at Hana Bank and Woori Bank.

Police are looking into the assaults and the theft of clients’ personal information. However, officials have not yet revealed which AI techniques were used.

They have also not divulged the extent of the breaches.

Lee has urged officials to immediately ascertain the facts. He also advocated for cybersecurity solutions that can address risks in the AI era.

The precise function of AI in bank assaults remains unknown. The study will assess how the assaults occurred and if the hackers employed artificial intelligence (AI).

South Korea’s Lee warns of wider AI hacking risks

The country’s banking industry is already reacting to the alleged attacks.

On Sunday, Financial Services Commission Chairman Lee Eog-weon convened an emergency meeting with financial sector groups, regulators, and executives from impacted banks.

He stressed that financial institutions must be vigilant while dealing with cyber threats.

The occurrences in South Korea come as other nations have revealed AI-related hacking efforts.

In September, Australia disclosed that an OpenAI agent hacked a federal health data site in June. The spy obtained illegal access to files. According to Australia, the event may be the first known incidence of an AI bot breaching a government website.

Last week, an artificial intelligence research group said that AI bots attempted to breach a Canadian government website. Canada claimed there was no evidence that its systems had been infiltrated.

South Korean officials have yet to reveal specifics regarding the AI technologies allegedly used in the bank assaults. They have also not disclosed the entire scope of the data breaches.

The inquiry is ongoing as officials attempt to determine what occurred and assess the damage.