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Protecting New Zealand from cyber attacks

According to a recent article, most global organisations continue to be in the dark about the possible threats that they may face and how these will affect them.

Accenture’s Cyber Threatscape Report 2018 shows that too many organisations remain vulnerable to attacks and yet they are not preparing for the worst.

Although New Zealand is somehow isolated geographically, that is not a guarantee from experiencing cyberattacks. The country’s systems and IP can still be potentially attacked from anywhere.

The country is deeply integrated into the global digital environment, transforming the way people live, work and play.

Moreover, the businesses are transforming digitally as they are being supported by good internet infrastructure and are immersed in a culture of innovation.

In the 2017 financial year, the technology sector has seen a revenue growth of 7.9% and has generated NZ$ 7.3 billion in offshore revenues.

To protect themselves, New Zealand organisation as well as their global counterparts should be prepared with how cyber threats are changing and adapt accordingly.

Cyber criminals are continuously networking, researching and testing out new tactics and procedures.

The report explains that cyber criminals are continuing to look for new ways to disrupt operations, make money or spy on their targets.

If the criminals are working nonstop to find vulnerabilities in organisations, then organisations must be on the front foot and expand their knowledge of potential threats and make the right investments.

These criminals are not just directly attacking chosen targets with phishing campaigns and vulnerability exploitation, but they are also looking to reach their targets through the networks of third or fourth-party supply chain partners by exploiting weaknesses in less modern technologies.

They will also try to attack the Internet of Things (IoT) and Industrial Internet of Things (IIoT) technologies that were not originally designed with cyber defence in mind.

The report mentioned that the number of nation-state-sponsored cyberattacks has grown and that the trend will likely to continue.

The National Cyber Security Centre of New Zealand discovered that in the past financial year, there were 122 cyber incidents related to state-sponsored computer network exploitation groups.

Several malware trends were outlined in the report. Cryptomining is a malware trend in cryptocurrency.

Miner malware rewards its operators with the cryptocurrency mined on infected hosts, with those victim systems potentially benefiting from rapid fluctuations in price.

The most prevalent form of attack to extort money from organisations is ransomware, with attacks doubling between 2016 and 2017. The number of reported incidents rose from 13% to 27%.

Cybercriminals are upping their attack methods and diversifying them by using multi-functional ransom malware.

This encompasses secondary functionality such as minder malware or data exfiltration, to ensure a second layer of possible profitability.

Being lax and complacent should be avoided as the kinds of cyberattacks happening are becoming more complex.

There are many tools and strategies that organisations can maximise in order to handle this kind of risk.

Organisations should adopt a continuous response model and always assume that the organisation has been breached. Use incident response and threat hunting teams to look for the next breach.

Improve on the research capabilities of the team as well as their abilities to provide strategic insights and increase their use of cyber research tools and technologies.

One of the most effective ways to prevent any attack is to think beyond the enterprise and instead on the whole cyber ecosystem.

Organisations should develop a more proactive security posture for businesses based on strategic, operational and tactical demands.

Significance on working with suppliers and partners around the world was stressed since only about 39% of companies say that the data exchanges with strategic partners or third parties are adequately protected by their cybersecurity strategy.

By analysing data, organisations can anticipate risk and adopt a more proactive approach and put in place robust defence strategies.

Being immersed in the global digital environment has left New Zealand exposed to a plethora of evolving cybercrimes.

Therefore, organisations must increase their focus and investment on cybersecurity to ensure that they are better protected and prepared.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.