The apparently secure credit card details of almost half the Korean population have been swiftly stolen and sold to marketing firms.

The entirety of the data was stolen by a single computer contractor, who was working for the Korea Credit Bureau – which produces credit scores.

The data included the names, social security numbers and full credit card details of over 20 million South Koreans. The authorities had no clue how far-reaching the breach was, the extent of the crime only being realised when the contractor was arrested.

Managers at the marketing firms that allegedly bought the data were also arrested.

Apparently, the contractor stumbled upon the treasure trove of data thanks to the access that the Korean Credit Bureau had to three big South Korean credit card firms.

He then proceeded to copy all of the data onto a handy USB stick.

Regulators are now looking into security measures at the three firms – KB Kookmin Card, Lotte Card, and NH Nonghyup Card – to ensure data stays safe in the future. A task force has also been set up to investigate the possible repercussions of the theft.

The three bosses of the credit card firms involved made a public apology for the breach.

[Source : BBC]