Financial Cybersecurity Facts, NZ

See insights on financial cybersecurity in New Zealand, including the most common types affecting businesses in 2023.

Here are some facts about financial cybersecurity in New Zealand:

1. New Zealand is ranked as the fifth most targeted country for cyberattacks in the world, with financial services being one of the most targeted sectors.


2. In 2020, there was a 65% increase in cyberattacks in New Zealand, with financial institutions being a prime target.


3. Phishing is one of the most common cyberattack methods used against financial institutions in New Zealand. In 2020, there was a 62% increase in phishing attacks compared to the previous year.


4. The Reserve Bank of New Zealand has reported that cyberattacks are increasing in sophistication, with attackers using more advanced techniques such as social engineering and ransomware.


5. In 2021, the New Zealand government announced a $20 million funding package to improve government agencies' cybersecurity and critical infrastructure, including financial institutions.


6. The New Zealand financial sector has implemented a range of measures to improve cybersecurity, including two-factor authentication, regular security assessments, and staff training programs.


7. The New Zealand Cyber Security Strategy 2019 outlines the government's approach to improving cybersecurity in the country, including improving the capability and resilience of financial institutions to respond to cyber threats.


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