Financial Losses Soar as New Zealand Faces Surge in Cyber Attacks

New Zealand’s battle against cybercrime has intensified, with recent data revealing a significant increase in financial losses due to online attacks. The latest figures from the National Cyber Security Centre (NCSC) show that from April 1 to June 30, Kiwis faced a staggering $6.8 million in losses, driven primarily by a few large-scale incidents.

Of this total, 11 major reports—each involving losses exceeding $100,000—contributed $5.5 million to the overall figure. Additionally, incidents of “unauthorised access,” where attackers breach systems without permission, resulted in a $3.6 million hit. Michael Jagusch, NCSC’s Director of Mission Enablement, underscored the severity of these breaches.

“Unauthorised access is particularly concerning because it means attackers are already inside your systems. They can commit crimes without immediate detection, putting sensitive data and financial resources at risk,” Jagusch explained.

Despite the alarming rise in financial damage, the number of reported incidents fell by 22% compared to the first quarter of the year, totaling 1,203 reports. This is also a 38% decrease from the same period last year. The most frequently reported cybercrimes included phishing and credential harvesting (484 reports), scams and fraud (434 reports), and unauthorised access (167 reports).

Jagusch encouraged organizations and individuals to proactively protect themselves against these threats. “Cybercriminals are constantly evolving their tactics, seeking new ways to exploit vulnerabilities. It’s crucial to stay ahead of these threats with robust security measures and informed strategies,” he said.

To help the public navigate these challenges, Jagusch recommended visiting OwnYourOnline.govt.nz, a resource dedicated to providing practical guidance on how to secure digital environments and mitigate risks.

“Bad actors are always innovating their methods to steal money and sensitive information,” Jagusch warned. “Our role is to equip you with simple, effective steps to defend against these attacks and protect your personal and organizational assets.”