Risks of hacking

What should we do if our banks and financial firms are hacked? Make sure your accounts are safe. Change your PIN numbers and see if your confidential information is accurate. Yet most consumers don't know what they can and should do if hackers steal such information.
Now, concerns are growing over cyber security as an unidentified hacker attacked the computer system of Hyundai Capital and took confidential personal data of over 420,000 customers, or 23 percent of the company's total clients.
Stolen information included customer names, their resident registration numbers, mobile phone numbers and e-mail addresses.
The hacker might even have stolen prime loan PIN numbers of some 13,000 customers. It can be said that the capital firm was caught off guard. The hacking allegedly began almost two months ago. However, no one noticed the attack until the hacker sent an e-mail to the firm last Thursday, demanding several hundred million won in return for not leaking the illegally obtained data.
The hacker even threatened to post the data on the Internet if the company refused to comply with the demands. Fortunately, Hyundai appeared to avoid a worst-case scenario as it immediately reported the breach to police. But it is still too early to relax as the hacker is still at large.
The Hyundai case is only a reminder of how vulnerable the online banking system is in South Korea, one of the world's most-wired countries and an IT power. It is a shame that businesses, banking firms and Internet portals are boasting their IT prowess without taking due steps to fend off any potential cyber attacks.
They have done little since the shocking leaks of personal information of 10.8 million users of e-Bay Auction Co., one of the nations' largest online shopping malls, in February 2008.
All economic players keep in mind that computer hackers are often smarter than online service providers and their customers. It is difficult to catch them once attacks take place. They are usually located in China, Southeast Asia or even Europe, making it hard to locate them.
The best way to beat hackers is to take preventive measures. It is of no use to shut the stable door after the horse has bolted. Better to utilize IT prowess to head off hackers.