Financial watchdog to use new technology in fighting financial cyber crimes

FSS Governor Lee Bok-hyun [Photo by Yonhap]

The Financial Supervisory Service (FSS) will introduce a new supervisory tool, Cyber Threat Intelligence (CTI), in October, FSS Governor Lee Bok-hyun said on Wednesday. CTI is a tool capable of identifying risks and responding to them proactively by collecting and analyzing big data related to cyber threats, demonstrating the financial watchdog’s commitment to fight cyber-enabled financial crimes with an advanced financial security system.

“Starting this month, we will implement the tech demonstration for CTI, a new supervisory tool which can collect and analyze threat information such as the dark web, and actively support the financial sector to respond to cyber risks more efficiently,” Lee said during his attendance at the Seoul Fintech Week 2023 on the same day.