Menu
​$257 million and counting as cyber crime rocks NZ market

​$257 million and counting as cyber crime rocks NZ market

Almost $257 million was lost to cybercrime during the past year in New Zealand, with approximately 856,000 Kiwis impacted by online crime.

Almost $257 million was lost to cybercrime during the past year in New Zealand, with approximately 856,000 Kiwis impacted by online crime.

Shedding light on the online crime market across the country, Norton by Symantec’s report - Norton Cybersecurity Insights Report - claims that 83 percent of New Zealanders worry they will be a victim of online crime, and 65 percent believe it is more likely their credit card information will be stolen online than from their wallets.

“Our findings reveal that consumer reservations are grounded in reality,” says Mark Gorrie, Director, Norton by Symantec, Pacific region.

“Consumer confidence has also been rocked by the number of mega breaches that exposed the identities of millions of people who were making routine purchases from well-known retailers.

“Our findings demonstrate that the headlines rattled people’s trust in mobile and online activity, but it hasn’t led to widespread adoption of simple protection measures people should take to safeguard their devices and information online.”

Norton claims New Zealanders lost an average of 22 hours and $300 per person dealing with the impact of cybercrime.

On top of this, cybercrime takes an emotional toll with nearly nine out of 10 respondents (89 percent) saying they’d be devastated if their financial information was compromised.

Despite concern and awareness of cybercrime, Gorrie says consumers are overconfident in their online security behaviours

“ When asked to grade their security practices, they consistently award themselves a solid “A”,” he explains.

Read more: Symantec CEO pinpoints new company direction

“But in reality, most are not passing the most basic requirement of online security: password use.”

In New Zealand, less than half (45 percent) always use a secure password - a combination of at least eight letters, numbers and symbols with people also sharing passwords to sensitive accounts with friends and family.

Of those sharing passwords, more than one in three (38 percent) share their banking account password, and on average they are sharing passwords for two accounts, with the most common passwords shared being email (54 percent) and social media (46 percent).

Up and down the country, findings show that women are also more likely to share their passwords than men (31 percent versus 23 percent).


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags symantecnorton

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments