The Financial Services Commission said on the 28th that it elevated the Joint Crisis Response Headquarters to the Central Accident Response Headquarters in line with the "serious" level of the crisis alert related to the National Information Resources Service fire.
That afternoon, under the chair of Vice Chair Kwon Dae-young, the commission held a second emergency meeting with the Financial Supervisory Service, related agencies, and each industry association to discuss the financial sector's preparedness and measures to minimize consumer damage.
The financial sector said that because the fire has made it difficult to verify the authenticity of resident registration cards, alternative means such as driver's licenses may be required for new account openings, and separate document submissions may be requested for financial transactions. It added that financial services related to the post office, where the current system failure occurred, such as automatic transfers, could face some disruptions. It reported that services such as the emissions trading market, Internet Giro, and online payment could operate normally in line with the restoration of the respective systems.
Financial firms are notifying customers via pop-up pages and other means about the affected financial services and any additional documents or alternative authentication methods required, and are seeking measures in loan screening to use alternative documents, such as "accept applications first, verify requirements later." Each company plans to maintain a close communication system with the authorities, including establishing response centers, until the situation stabilizes.
Vice Chair Kwon Dae-young of the Financial Services Commission said, "The more difficult the times, the more financial companies should make 'minimizing consumer inconvenience' the top priority and do their best on the ground to avoid inconveniences," and added, "Even if financial companies take proactive steps to protect consumers, we will seek ways to flexibly apply measures such as no-action letters so they do not suffer disadvantages afterward."
He also emphasized the need to take every precaution in financial security, information protection, and responses to voice phishing to prevent consumer damage from hacking and other breaches or voice phishing in the midst of the confusion.