Financial Services Financial Services

South Korean fintech giant Toss sanctioned for mishandling personal-credit data

By Jenny Lee
  • 29 Oct 2024 07:37
  • 29 Oct 2024 07:37
South Korean fintech giant Toss faces regulatory sanctions including fines totaling 6 billion won (about $4.3 million) and a corporate warning for violations of data-privacy law and security protocols, the country's financial watchdog announced in a recent notice (see here).
According to the Financial Supervisory Service, or FSS, the sanctions

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Jenny Lee

Correspondent


Jenny joined MLex’s Seoul bureau in 2021 as a correspondent focusing on competition law and data privacy and security. Jenny received a Master’s degree from Northwestern University’s renowned Medill School of Journalism and worked for a number of news organizations in the US, including the Associated Press Television News, McClatchy and Voice of America, where she worked for almost three years in Washington DC. She returned to her native South Korea in 2019 as a reporter for Wired Korea.

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