ChannelLife New Zealand logo
Industry insider news for New Zealand's technology resellers
Story image

Kiwi businesses blasé about cyber attacks

By Heather Wright
Fri 13 Nov 2015
FYI, this story is more than a year old

Sixty-two percent of Kiwi businesses polled in a recent survey don’t have an IT privacy and security strategy in place, and only 50% had a person specifically tasked with cyber-security.

The stark figures are highlighted in the Grant Thornton International Business Report, a global survey of 2500 business leaders.

The report reveals that cyber attacks are taking a serious toll on businesses globally, with one in six businesses surveyed facing a cyber attack in the past year and the total cost of attacks globally estimated to be at least US$315 billion over the past 12 months.

Regionally, cyber attacks are estimated to have cost Asia Pacific businesses $81 billion in the past 12 months.

In New Zealand, however, only 26% of respondents surveyed see cyber attacks as a threat in their sector. That’s despite the Australian Cyber Security Centre recently raising concerns about the level of attacks being seen there.

Hamish Bowen, Grant Thornton New Zealand partner, operational advisory, says high profile security breaches are becoming more common and without a comprehensive strategy to prevent digital crime, businesses 'are really putting themselves in the firing line'.

"And it's not just financial risks that businesses need to be worried about, there can be a high price to pay in terms of reputational damage as well - just look at Ashley Madison and Sony," Bowen says.

He says says IT privacy and security should be at the top of the agenda for all organisations.

"It's no longer a question of if your business will come under attack, but when," Bowen adds.

New Zealand’s National Cyber Security Centre (NCSC) saw an increase of more than 60% in reported incidents in 2013.

"The NCSC's 2014 and 2015 incident reports haven't been released yet, but I'm sure we'll see an increase in that figure for the past two years based on what's happening in the current environment," Bowen says.

Paul Jacobs, Grant Thornton global leader of cyber security, says businesses cannot afford to be behind the curve.

"Cyber attacks can strike without warning and sometimes without the victim being immediately aware. The pressure from customers and clients cannot be ignored," Jacobs says.

"In this digital age, rigorous security and privacy is expected. If this cannot be guaranteed, the ultimate risk is they will simply go elsewhere."

The global figures show the average cyber attack is costing businesses 1.2% of revenues.

Related stories
Top stories
Story image
2degrees
2degrees announces appointments to newly established board
2degrees has announced Liz Coutts as the board chair, while Russell Stanners and Kathy Meads join her as directors.
Story image
Web application firewall
Radware recognised in KuppingerCole’s 2022 Leadership Compass report
Radware has been named a Product, Innovation, Market and Overall Leader in the 2022 KuppingerCole Leadership Compass report for Web Application Firewalls.
Story image
Financial results
Jade Software’s plan to get back to surplus in 2022
Jade Software has released its latest financial report, revealing that the company has kept its loss low from $567,000 in FY 2020 to just $153,000 in FY 2021.
Story image
Document Management
TrustRadius gives M-Files two document management awards
TrustRadius has recognised M-Files with both a 2022 Best Feature Set and a 2022 Best Relationship award in document management.
Story image
SaaS
Claroty launches new cloud-based industrial cybersecurity platform
The company says Claroty xDome is the industry's first solution to deliver the ease and scalability of SaaS without compromising on visibility, protection, and monitoring controls.
Story image
Tether
Ricoh and NZ tech company Tether initiate new reseller partnership
A new reseller partnership between Ricoh and NZ tech company Tether will focus on monitoring, hybrid work and air quality solutions.
Story image
Cloud
Pax8 acquires NZ cloud company Umbrellar
Pax8 has recently acquired New Zealand cloud company Umbrellar in a move that will expand Pax8's footprint in the region and empower its fast-growing partner base.
Story image
Gaming
Hands-on review: SteelSeries Apex Pro Mini Keyboard
SteelSeries has taken the design of its range of Apex keyboards to create a smaller version, the Apex Pro Mini. Techday’s Darren Price checks it out.
Story image
Hybrid Cloud
The essential guide to digital transformation by SolarWinds
Digital transformation is a buzzword thrown around all the time by companies, but what does it actually mean and why is it important? SolarWinds breaks it down.
Story image
Tablets & laptops
Chromebook and tablet shipments see another rapid decline for the year
According to research from Canalys PC Analysis, Chromebook and tablet shipments have fallen for the fourth quarter in a row for Q2 of 2022.
Story image
Wireless
Hands-on review: James Donkey RS4 Knight Wireless Gaming Keyboard
I have always liked mechanical keyboards, and this is no exception. I find the action much easier to use than the modern keyboards with limited travel.
Story image
Tablets & laptops
Hands-on review: Xencelabs Graphic Display Tablet
Xencelabs seemed to show up out of nowhere on the market. I had no idea who they were or what they were about, but I was very intrigued.
Story image
CRM
Forrester names Pega a Leader in CRM Solutions 2022 report
Forrester Research has named Pega a Leader among 11 competitors in The Forrester Wave: Core CRM Solutions, Q3 2022 report.
Story image
Product Management
TeamViewer and Siemens to innovate product lifecycle space with AR
TeamViewer's new partnership with Siemens Digital Industries Software to bring the power of TeamViewer's AR platform, Frontline, to Siemen Teamcenter software.
Story image
Cloud
Microsoft and Auckland Transport announce new cloud agreement
Auckland Transport (AT) and Microsoft have announced a new cloud agreement aimed at promoting innovation, reducing costs and improving sustainability in transport services.
Story image
Financial results
Facebook NZ financial report reveals notable revenue increase
Revenue from contracts with customers increased by $NZD 1,089,292 compared to 2020's figures.
Story image
i-PRO
VisualCortex and i-PRO partner for enhanced APAC deployments
VisualCortex and i-PRO have partnered to facilitate enterprise-wide Computer Vision technology deployments in APAC.
Story image
Phishing
Norton research finds NZ threat landscape diversifying on social media
Norton's quarterly report has highlighted the seriousness of the threat landscape in New Zealand.
Story image
Firewall
Fortinet unveils compact firewall for hyperscale data centres, 5G networks
"Fortinet’s dedication to pushing the boundaries of what is possible in security performance has yielded the most powerful compact firewall yet."
Story image
Mergers and Acquisitions
Netskope acquires Infiot, delivers integrated SASE platform
Converged SASE platform provides AI-driven zero trust security and simplified, optimised connectivity to any network location or device, including IoT.
Story image
SAP
OutSystems joins SAP PartnerEdge program, integrates solutions
OutSystems has become an official member of the SAP PartnerEdge program. This will make it easier for other businesses within the SAP ecosystem to discover and connect with OutSystems.
Story image
Customer
OfficeMax NZ sees significant growth through Seismic partnership
OfficeMax New Zealand has announced it has seen a significant increase in customer and sales confidence as a result of Seismic’s digital enablement software.
Story image
Enterprise
Fortinet reports second quarter 2022 financial results
“We delivered strong revenue and billings growth in the second quarter driven by an increase in the number of transactions larger than one million dollars."
Story image
Sales
BNZ launches first tap-on-phone point of sale app in NZ
Bank of New Zealand has launched BNZ Pay, an innovative mobile app for retailers that transforms an Android device into a contactless payment terminal. 
Story image
Microsoft
SaaS sector in NZ thriving as a result of trans -Tasman partnerships
New Zealand's Software-as-a-Service (SaaS) sector is on track to be the biggest contributor to GDP this year, generating more than NZD$20 billion for the New Zealand economy.
Story image
Malware
Nozomi Networks Labs identifies impacts on 2022 threat landscape
Nozomi Networks’ latest research finds that wiper malware, IoT botnet activity, and the Russia/Ukraine war have had the biggest impact on the threat landscape in 2022 so far.
Story image
Apple
2degrees unveils eSIM functionality for selected devices
2degrees has enabled eSIM functionality to work with a variety of Apple, Samsung and Oppo devices, including a range of iPads.
Story image
Printers
Comedy legend Jimeoin fronts Epson advertising campaign in NZ and Australia
According to Epson the company’s EcoTank models now account for 74% of all printers sold in the category in New Zealand, alone.
Story image
Financials
Google NZ numbers show strong comprehensive profit increase
The latest financial report from Google New Zealand Limited has revealed an increase in total comprehensive profit of over $NZD 7 million.
Story image
Wireless
Wave Audio delivers ultimate immersion with new wireless earbuds
Wave Audio, one of Australia's best new audio brands, has recently released a set of landmark noise-cancelling true wireless earbuds, the Immersive Pro.
Story image
SAP
Microsoft unveils two new security products to help reduce attack surfaces
The products are set to give companies deeper insights into threat actor activity and help them successfully navigate the changing threat landscape.
Story image
Revenue
IBM NZ sees significant revenue increase in latest report
IBM NZ has posted revenue of $172,449,000 for the financial year, according to its latest report, a year-over-year increase of over $47.5 million compared to $124,904,000 in 2020.
Story image
Identity and Access Management
Pitney Bowes launches rebranded digital visitor management offering in A/NZ
Pitney Bowes has launched Smart Access Management (SAM), its rebranded digital visitor and contractor management offering in Australia and New Zealand.
Story image
Cybersecurity
More than a fifth of cybersecurity teams ban the use of public WiFi
Verizon’s fifth annual Mobile Security Index report has revealed a continued rise in significant cyberattacks in the last year involving a mobile/IoT device.
Story image
Compliance
Why security needs to shape your journey to the cloud
It's estimated that 80% of workloads could be in the cloud in the next few years. How can you make all that data secure?
Story image
Toshiba NZ
Toshiba's New Zealand Branch sees profit decline - report
Toshiba Australia's New Zealand Branch have released their latest financial reports, showing the company’s total revenue from contracts with customers has grown by $6,926,000 in Australia.
Story image
Wireless
Wave Audio spices up portfolio with first ever party speaker
Australian-based pioneers Wave Audio are enhancing their extensive range of groundbreaking new audio products by adding one of the most versatile speakers on the market to their growing portfolio.
Story image
Ernst & Young
Ernst & Young NZ acquires tech firm Q4 Associates
Effective from today, the Q4 Associates addition will impact significant areas of EY’s working operations, particularly in the financial sector.
Story image
Inde
Exclusive: Inde provides innovative solutions across the tech sector
Inde likes to call its approach the 'power of the collective', which essentially means that if a client approaches the company with a problem, they'll get the team's collective insight to help drive the best outcome.
Story image
Gaming
Chorus announces Hyperfibre sponsorship deal with NZ Esports
Chorus has put its support behind New Zealand's Esports community with a newly announced three-year Hyperfibre sponsorship deal with NZ Esports.
Story image
Data Protection
Video: 10 Minute IT Jams - An update from SearchInform
Alexey Pinchuk joins us today to discuss the role the company plays in helping organisations manage risk and provide better security outcomes.
Story image
Report
Westcon NZ posts $19.1 million YOY revenue increase - report
Westcon NZ has released its latest financial report, showing the company has increased its revenue by $19,119,905 in the last financial year.