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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] The Korea National Federation of Agricultural Cooperatives (Nonghyup) has been fined by the Financial Supervisory Service for failing to delete or separately store personal credit information of customers whose trading relationships have ended.
According to the FSS's sanction announcement on the 9th, Nonghyup is subject to a fine of 30 million won. The FSS issued a cautionary measure to one executive and issued notices of retirement-related violations to two others. Additionally, one employee was notified of the need for voluntary action on a matter.
Nonghyup failed to delete personal credit information that had either been expired for five years since the end of trading relationships or had exceeded the mandatory retention period of 10 years under the Commercial Act, covering a total of 19,562,276 pieces of information.
During the same period, essential personal credit information for setting up and maintaining trading relationships, totaling 19,646,188 pieces, was neither deleted nor separately stored from other customer information whose trading relationships had not ended.
Furthermore, the central association did not comply with the regulation requiring the documentation and retention of records for anonymized personal credit information, including dates, information items, and reasons, for three years.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
