World news – The Central Bank of New Zealand reports a breach of the data system

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The Reserve Bank of New Zealand (RBNZ) announced on Sunday that it is urgently responding to a breach of one of its data systems.

To a third-party file sharing service operated by the Central bank used to share and store sensitive information was accessed illegally, the bank said in a statement.

RBNZ Governor Adrian Orr said the breach had been contained but added that it had been for some time It would take time to understand the full implications of this breach.

« The type and amount of information that may have been accessed is still being determined, but it may contain some commercially and personally sensitive information, » Orr said in a statement .

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In August, the operator of the New Zealand stock exchange was hit by cyber attacks. InPhySec, an independent cybersecurity firm tasked with reviewing cyberattacks, said the scale, sophistication and persistence of the attacks were unprecedented in New Zealand.

In a November 2019 financial stability report, the RBNZ warned that the frequency and Cybersecurity incident severity in New Zealand on the rise.

In February last year, the bank said in a report that the expected cost of cyber incidents to the banking and insurance industries was between NZ $ 80 million (S $) and NZ $ 140 million per year.

« More extreme events have a low probability but are still plausible, » the bank said in this report. REUTERS

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Ref: https://www.businesstimes.com.sg

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