"Secure Your Accounts and Loans: Surge in Protection Requests Amid Financial Sector Hacking Emergency"

# SK Telecom Data Breach Sparks Surge in Consumer Security Measures Amid Financial Fraud Concerns A substantial data breach at SK Telecom (SKT) has fueled mounting fears among financial consumers about the misuse of leaked personal information, potentially leading to identity theft and financial fraud. This has triggered a significant increase in demand for anti-fraud services like non-face-to-face account opening and loan transaction blocking. ## Sharp Uptick in Preventive Measures Post-Breach According to financial authorities and industry insiders as of May 5, financial institutions, including banks, are offering fraud prevention safeguards through non-face-to-face account setup and loan transaction blocking services. These programs help consumers block unauthorized online account openings and loan executions across financial institutions, protecting them against fraudulent activities stemming from personal data leaks. Since SKT's hacking incident came to light on April 21, there has been an exponential rise in the adoption of preventive services aimed at fraud prevention. Before the incident, the daily average for new non-face-to-face account blocking service registrations was around 4,500. However, between April 22 and April 28, approximately 350,000 new registrations were recorded—a significant increase. On April 28 alone, a record-breaking 292,300 people applied for the service, raising total cumulative registrations to 507,400, up from about 150,000 before the breach. Similarly, applications for the loan transaction blocking service have also soared. Daily sign-ups averaged 2,300 before the breach, but during the same week, around 450,000 people applied. The highest daily spike occurred on April 28, with an astounding 405,700 applications. By that date, total registrations had jumped to 880,300, more than double the 420,000 recorded before the incident. ## Younger Demographics Propel Service Adoption Surge The data breach has notably shifted service usage demographics. Individuals under 40, who accounted for just 22% of service users before the incident, now make up 65% of users, reflecting increased security awareness among younger populations. ## Overview of Anti-Fraud Blocking Services Anti-fraud blocking services allow consumers to preemptively block specific financial transactions, protecting against risks like voice phishing scams and identity theft. The **non-face-to-face account blocking service** prevents the online opening of demand deposit accounts across all financial institutions. The **loan transaction blocking service** halts all forms of personal lending, including unsecured loans, secured loans, credit card loans, installment financing, leases, and small-amount loans. ## How to Subscribe and Manage Services Consumers can register for these services by visiting their bank branch or through the bank’s mobile app. Eligible institutions include commercial banks, savings banks, agricultural cooperatives, fisheries cooperatives, credit unions, community credit cooperatives, forestry cooperatives, and post offices. To deactivate the service, consumers can visit a branch, regardless of prior business with the institution. Transactions can resume immediately upon deactivation. Consumers may also re-enroll in the safeguard services after completing necessary transactions. The SK Telecom data breach has highlighted the vulnerability of personal information and its potential misuse. As consumers take proactive measures for protection, the financial industry might experience increased demand for stronger security measures in the future.