South Korean police have applied additional charges under the Electronic Financial Transactions Act to a recent hacking attack on a financial institution, classifying the case as a serious crime and deciding to notify the Serious Crimes Investigation Agency of the case.
The National Office of Investigation under the Korean National Police Agency said on the 20th that it had identified additional violations of the Electronic Financial Transactions Act in the hacking case, on top of existing charges under the Act on Promotion of Information and Communications Network Utilization and Information Protection.
Police said they reached the decision after weighing the findings of their investigation so far, a review of applicable laws, an authoritative interpretation from the Financial Services Commission and the views of the financial firm that was targeted.
Violations of the Electronic Financial Transactions Act fall under the category of serious crimes subject to investigation by the Serious Crimes Investigation Agency, as defined in Article 2 of the Serious Crimes Investigation Agency Act. Police plan to notify the agency of the case accordingly.
"We will investigate thoroughly in line with the procedures set out by law so that there is no gap in the investigation," the National Office of Investigation said.