Korea to protect users from e-banking fraud and hacking
Publish date: 15 September 2004
Issue Number: 1047
Diary: Legalbrief eLaw
Category: Labour
The Korean Ministry of Finance and Economy has said that it will resubmit a Bill to the National Assembly next month to institutionalise the protection of customers from frauds linked to electronic banking, reports The Korea Times.
Under the proposed legislation, financial firms or electronic banking operators would be obliged to take responsibility if online banking difficulties occur because of hacking or other problems. However, they would be immune from liability if there were a contract to clarify that online banking users are responsible if such a problem takes place. Full report in The Korea Times
