New Zealand establishes cyber agency to enhance online security.
New Zealand Boosts Cyber Defences to Safeguard Public and Businesses
The government of New Zealand announced on Wednesday its plans to enhance its cyber defences by establishing a lead agency dedicated to assisting the public and businesses in the event of network intrusions. This move aims to improve the response to cyber incidents by integrating New Zealand’s Computer Emergency Response Team into the National Cyber Security Centre.
“The cyber security threats New Zealand faces are growing in scale and sophistication,” stated Public Service Minister Andrew Little. He further added, “Having a single agency to provide authoritative advice and respond to incidents across every threat level is international best practice.”
According to official data, direct financial losses from cyber incidents in the first quarter of this year amounted to NZ$5.8 million ($3.61 million). However, the government believes that the true extent of harm to the economy is underreported.
In recent times, New Zealand has witnessed a surge in online break-ins, prompting the country’s central bank to propose the collection of financial data on cyber incidents to gain a better understanding of cyber risks in the financial sector. Additionally, several companies in New Zealand and neighboring Australia have fallen victim to cyber attacks, including the recent ransomware attack on payments solutions provider Smartpay Holdings.
($1 = 1.6067 New Zealand dollars)
(Reporting by Renju Jose in Sydney; Editing by Sonali Paul)
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