New research has found that more than half the country experienced an online threat and 830,000 people experienced some financial loss.
The National Cyber Security Centre’s annual survey, conducted by The Research Agency, indicates the financial loss suffered by New Zealanders due to online security threats is around $1.6 billion.
A statement from the NCSC says the research found 54 percent of adult New Zealanders had experienced an online threat in the last six months and 830,000 had experienced some financial loss, with the average amount lost per attack being $1,260.
Mike Jagusch, the NCSC’s Director Mission Enablement, says if these numbers are extrapolated across the adult population, it indicates that around $1.6 billion was lost last year.
These numbers are much higher than what is reported to the NCSC through its reporting channels.
“Direct financial loss is only one of the many effects of cyber attacks…”
“We know cyber security attacks are under-reported. We also know that direct financial loss is only one of the many effects of cyber attacks. These incidents also lead to loss of time, loss of personal information and impacts mental wellbeing.”
“Overall, cyber attacks have a significant cost on New Zealand’s economy and on New Zealanders.”
The research shows that almost everyone agrees it’s important to protect themselves online, and more than half took steps to protect themselves in the last six months.
“It is encouraging to see so many people engaged in new cyber security behaviour,” Jagusch says.
These behaviours include using two-factor authentication on main accounts, changing default passwords on devices like Wi-Fi routers, and using a password manager.
“We also saw apathy was a common barrier among those who did not take cyber security actions.”
Apathy is also a key reason for not reporting incidents. The research showed there was a decrease in reporting cyber incidents.
“It’s easy to think nothing happens when you report,” says Jagusch.
“Your reports help us to better understand the threats we face and helps us to shape our response. It also helps other New Zealanders keep safe from similar attacks and keep them from losing money.”
Click here to see the full research.
