The 2016 Global Economic Crime Survey from PwC underlines that the issue of cyber security belongs in the boardroom, not the IT Department, claims Communications Minister Amy Adams.
As reported by Computerworld New Zealand, the PwC survey found that 40 percent of New Zealand organisations have experienced cybercrime over the past two years, but only 45 percent of all organisations have a cyber incident response plan - the report places New Zealand 19th out of 115 countries.
“The Global Economic Crime Survey is a welcome and valuable report for New Zealand businesses looking to better understand the range of threats in today’s modern operating environment,” Adams says.
“The report is a sobering read and a call to action for chairs and chief executives to focus on managing the growing cyber security risk to their businesses.
“It’s important that companies create strong security cultures with actively engaged boards, because ultimately this isn’t an issue that directors can ignore.”
Adams says with 29 percent of companies reporting a cybercrime incident, it’s “vital” that New Zealand businesses understand what data they hold and create.
“Boardrooms around the country need to consider cyber vulnerabilities as a key business risk and address this as part of management processes,” Adams adds.
In December, Adams launched the refreshed New Zealand Cyber Security Strategy, highlighting the need for the corporate sector, including operators of critical national infrastructure, to have policies and procedures in place to mitigate cyber security threats.
“The Institute of Director’s Practice Guide for Directors is an excellent resource for Board members to ensure they have a good sense of their responsibilities and cyber security best practice,” Adams adds.