Credit Card Data Theft Leaves South Korea "Seething"

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Mark Melin
Published on
Updated on

The United States is not the only country where credit card data theft is a major issue. On the heels of high-profile credit card security breaches at Target Corporation (NYSE:TGT) and Neiman Marcus, South Korean officials are reportedly seething over the theft of data from more than 100 million credit card accounts. The thieves even snatched credit card data from South Korean President Park Geun-hye and UN chief Ban Ki-moon, according to reports. Unlike the digital breaches in the U.S., which were likely executed overseas and perpetrated by hacking through internet security protocols, the South Korean episode involves physical theft. …

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.