Cybersecurity in NZ: Small Country, Big Threat
In New Zealand, we like to think we’re too small to be on cybercriminals’ radar, but, spoiler alert, they definitely notice us!
Despite our nation’s smaller size, the threat of cyberattacks is very real. Cybercriminals don’t care where you are; they target vulnerabilities wherever they find them.
In the second quarter of 2024 alone (from 1 April to 30 June), Kiwis reported losses totalling $6.8 million due to cybercrime. Shockingly, $5.5 million of that came from just 11 incidents, each costing more than $100,000. Yikes!
One of the biggest culprits? Unauthorised access, a sneaky attack where criminals break into systems and operate undetected, causing major damage before anyone realises.
As NCSC Director Michael Jagusch warns, "Unauthorised access is a serious threat. Visit OwnYourOnline.govt.nz for steps to help protect yourself."
Your First Line of Defence: Stick to The Essential 8 Basics
When it comes to protecting your business, the basics can often be your first line of defence!
That’s why we’ve created a free resource for you: Cybersecurity: Essential 8. This handy guide lays out the must-do steps every business should take to dodge digital disasters and keep things running smoothly.
In the Essential 8 eBook, we break down the core components of this gold standard in cybersecurity. You’ll learn strategies that are crucial for both small and large organisations.
But I’ve Done the Basics, Now What?
After you’ve nailed the basics, it’s time for a security check-up! A cybersecurity audit is like your business’s annual WOF – but a lot more crucial.
There are two types of audits: free and paid. Free audits can be a bit like those "free samples" - they might give you a taste, but they’re also a way for providers to sell you something else. Plus, they don’t always dig deep enough to uncover the real vulnerabilities lurking in your systems.
Paid audits, however, go full Sherlock Holmes on your cybersecurity, offering a thorough check-up to find any risks and deliver tailored solutions.
If you're serious about keeping your business safe, we always recommend the paid route. Regular audits let you catch the small issues before they turn into big, costly (and at times irreversible) headaches.
The Rising Threat To New Zealand Business
It’s not just about keeping the bad guys out - it’s about staying ahead of the curve. Cyberattacks are evolving fast, and no business is too small to be a target. In fact, cyber-attacks on Kiwi businesses cost, on average, $19,000 per attack - more than double the average seen in Australia. Ouch!
The most common threats include:
Business Email Compromise (BEC): Affected 70% of organisations, with 29% of those suffering breaches.
Ransomware: Hits 45% of businesses, with 86% leading to data theft.
Not only does a cyberattack lead to financial loss, but it also brings downtime, reputational damage, and the pain of redoing a lot of lost work.
Next Steps: It’s Time for a Security ‘WOF’
October is Cybersecurity Month worldwide, and here in New Zealand, we're gearing up for Cyber Smart Week from 21 - 27 October. During this week, we'll be sharing daily tips to help keep your team safe and secure.
But let’s talk bigger picture. In the last six months, we’ve:
Analysed 1.11 billion security events
Investigated 352 potential threats
Dealt with 212 cyber incidents
If your systems aren’t fully managed, vulnerabilities could be slipping through the cracks without you even knowing it.
That’s why it’s probably time for you to be thinking about getting a cybersecurity audit. Think of it as an investment in your business’s future - and it may even help lower your insurance premiums!
Don’t wait until the hackers come knock, knock, knocking on your door. Reach out to us today and schedule your audit to make sure your business is ready to fend off cyber threats. Hi-YAH!
So, from our team at Netcare, stay safe out there folks! The cyber world is a jungle, but with the right tools and a little know-how, you’ll be swinging through it like a pro.