New Zealand has announced plans to enhance its cyber defenses by establishing a lead agency aimed at providing assistance to the public and businesses during network intrusions. The government intends to integrate New Zealand’s Computer Emergency Response Team into its National Cyber Security Centre, with the objective of improving the response to cyber incidents.
Public Service Minister Andrew Little stated that the cyber security threats faced by New Zealand are becoming increasingly sophisticated and widespread. He emphasized the importance of having a single agency that can offer authoritative advice and address incidents at all threat levels, as it aligns with international best practices.
Official data shows that direct financial losses from cyber incidents amounted to approximately NZ$5.8 million ($3.61 million) in the first quarter of this year. However, the government believes that the true extent of the harm to the economy is likely underreported.
New Zealand has witnessed a rise in online break-ins, prompting the country’s central bank to propose the collection of financial data on cyber incidents in order to gain a better understanding of cyber risks in the financial sector. Additionally, numerous companies in New Zealand and neighboring Australia have been targeted by cyber attacks in recent months.
Renju Jose reporting from Sydney. Edit by Sonali Paul.
Credit: The Star : News Feed
