Yonhap News AgencyApril 15, 2014 05:46
By Kim Boram
SEOUL, April 15 (Yonhap) -- South Korea's chief financial watchdog on Tuesday warned local banks that further misconduct would result in harsh punishment, demanding that they reinforce discipline and tighten security in light of a series of recent mistakes from data leaks to business irregularities.
"We all have to take responsibility for the recent incidents as we did not comply with laws and principles, which are the foundation of the financial system," Financial Supervisory Service (FSS) Gov. Choi Soo-hyun said in a meeting with heads of local banks.