South Korea fines Lotte Card £3.4m over massive data leak

According to Yonhap News, Lotte Card has been notified by the financial watchdog that it is liable for around 5 billion won ($3.38 million) in financial penalties and a business suspension of over four months over a massive data leak. The notice was sent by the Financial Supervisory Service, with penalties set to be finalised by the Financial Services Commission in the near future, the sources said.

This represents the second monetary penalty action involving Lotte Card this year, both stemming from the same incident that affected almost 3 million customers. The suspension of new sign-ups is expected to significantly cost the company. Regulators have previously used business suspension and penalties to address breaches, including actions that include suspending a business’s ability to enrol new customers and fining executives. The report notes this is part of a continuing enforcement trend in South Korea’s financial sector over large data leaks. 9 April 2026.