Contact and Social

Businesses urged to prepare better for cyber threats

Photo courtesy of elhombredenegro

Photo courtesy of elhombredenegro

Yet another warning has been issued for New Zealand businesses to better prepare for cyber attacks. This one comes from the country’s insurance industry.

Insurers are urging Kiwi businesses, particularly small and medium-sized enterprises, to review the security of their networks and internet operations and consider any gaps in their insurance cover.

The new warning has been brought on by the recent cyber-attack on eBay and the hacking of US retail giant Target last year that compromised the personal data of millions of shoppers.

“The hacking of NIWA’s supercomputer last week is a stark reminder that New Zealand is not immune to the increasing global threat of cyber-crime,” says ICNZ Tim Grafton. “Cyber-related crimes are believed to have cost New Zealand businesses over $625 million in 2011 and that’s probably a conservative figure because some businesses are reluctant to disclose a cyber-breach of their systems.”

Global cyber-attacks increased more than 2000% in the past four years with about half originating from the Asia Pacific region and an estimated 75% of organisations in this region experiencing a cyber-attack over the past two years.”

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