[Alpha Biz= Paul Lee] South Korea’s financial regulators have issued a consumer alert following reports of a massive personal data leak originating from China, raising concerns over potential smishing scams and unauthorized credit card use.
According to financial industry sources on July 1, approximately 4 billion pieces of personal data—allegedly collected via Chinese platforms such as WeChat and Alipay—were reportedly leaked. The compromised data is believed to include names, birth dates, phone numbers, and possibly some credit card information, prompting concerns over its potential misuse.
Although there is no confirmed evidence yet that Korean users’ data was exposed, the Financial Supervisory Service (FSS) warned that scam attempts exploiting heightened consumer anxiety could increase. The agency has urged card companies to closely monitor for complaints related to unauthorized card use and to enhance detection efforts using fraud detection systems (FDS).
In preparation for potential fallout, the FSS is working with cybersecurity agencies to monitor dark web activity and detect any illegal distribution of leaked data.
Consumers are strongly advised not to click on links in suspicious text messages, to register for protective services that block unauthorized credit transactions and remote account openings, and to avoid saving card information on overseas e-commerce sites, particularly those with weaker data encryption protocols.
The FSS added that any suspicious activity should be immediately reported to one’s card issuer for card suspension and reissuance.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
