(Photo = Kakao pay)

 

[Alpha Biz= Reporter Kim Minyoung] Following KakaoPay's data breach controversy, where large amounts of personal data were transferred to Alibaba's Alipay without customer consent, the Financial Supervisory Service (FSS) is now expanding its investigation to other payment services such as Naver Pay and Toss Pay. The FSS is examining whether similar cases of data transfer to third parties have occurred with these companies.

The investigation will focus on whether these payment platforms have properly encrypted customer information to prevent decryption. The concern arises from the possibility that inadequately anonymized data may have been transferred overseas.

As of August 18, the FSS is reviewing whether Naver Pay and Toss Pay have provided excessive personal data to foreign or third-party entities. Initially, the FSS is requesting relevant documents from these companies for a written review, with on-site inspections possible if needed.

Additionally, the FSS will assess the encryption practices of Naver Pay and Toss Pay. The scrutiny comes after KakaoPay's alleged use of basic encryption methods, which reportedly lacked essential random values for anonymization, leading to security concerns.

The FSS is working to identify companies with weak encryption practices to address potential vulnerabilities in the industry and ensure compliance with data protection standards.

 

 

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