Chatbots May Not Protect Personal Data, Korean Financial Watchdog Warns

Chatbots May Not Protect Personal Data, Korean Financial Watchdog Warns

South Korea’s Financial Supervisory Service (FSS) warned this week that chatbots that offer automated assistance are vulnerable to personal data breaches.

In a survey of 352 financial firms, the financial watchdog found that 26 financial institutions, including 6 banks, use chatbots to handle their customer’s requests while 21 others said that they will be implementing it by 2019.

However, the FSS found that some chatbot services used by financial institutions do not encrypt clients’ personal information which make them more vulnerable to leaks of personal data or break-ins.

Source: Yonhap News

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