G Market Under Inquiry Following Unauthorized Mobile Gift Certificate Payments
Seoul, South Korea – South Korean financial authorities have launched an on-site inspection of e-commerce platform G Market following reports of unauthorized payments made using mobile gift certificates. The Financial Supervisory Service (FSS) began the investigation on November 3rd to determine how the fraudulent transactions occurred and to analyze related transaction patterns.
the incident came to light after G Market received a wave of cancellation requests from users reporting payments made with mobile gift certificates they had never used. G Market announced on October 29th that it had promptly alerted the FSS to the issue. Approximately 60 customers were affected, with individual damages ranging from 30,000 to 200,000 won.
A G Market official stated the company believes the unauthorized payments stemmed from account access gained through information obtained from external sources. G Market has committed to fully refunding all affected customers.
The incident occurs amidst heightened concerns over data security following Coupang‘s recent announcement of a data breach impacting 33.7 million pieces of personal information. Coupang maintains that customer payment details were not compromised, as all such data is processed through its separate payment subsidiary, Coupang Pay.
The back-to-back security concerns have sparked anxiety among consumers, who fear potential secondary damages like smishing, voice phishing, and identity theft.Reports of suspicious login attempts and unauthorized payment notifications are circulating on social media and online communities.
Industry experts acknowledge the constant battle against cyber threats. “Attempts to break in from outside are constant. They are robbed,then blocked,and supplemented again to stop them,” one official explained. However, strengthening security measures presents a challenge. “This is because strengthening security significantly harms user accessibility and payment convenience,” another official noted.
In response to the escalating concerns, other e-commerce platforms are bolstering their security protocols. SSG.com has expanded login notifications to include customers who haven’t explicitly opted-in,and has increased public awareness campaigns regarding phishing and smishing scams. 11th Street utilizes 24/7 professional security monitoring,while Lotte On plans to conduct emergency security inspections and implement further preventative measures.
Industry officials emphasize that while e-commerce companies are enhancing identity authentication processes, user vigilance is also crucial. “Users also need to make efforts, such as changing their passwords periodically,” one official advised.