New Zealand’s Cybersecurity Landscape: Insights from NCSC Q3 2024 Report
Cyber Incidents Surge by 58%, According to NCSC Q3 2024 Report
New Zealand’s National Cyber Security Centre (NCSC) has unveiled its Cyber Security Insights Report for the third quarter of 2024, revealing a staggering 58% increase in reported cyber incidents compared to the previous quarter. The report documented a total of 1,905 incidents, a significant rise that, while alarming, is seen as a positive indicator of growing awareness and proactive reporting among individuals and organizations.
“The increase in incident reporting is encouraging, as it indicates growing awareness among businesses and individuals about the importance of cybersecurity,” stated an NCSC spokesperson. This proactive approach is crucial in fortifying New Zealand’s cybersecurity landscape.
Phishing and credential harvesting attacks emerged as the most prevalent threats, with a 70% increase in such incidents. These tactics, which involve deceiving victims into revealing sensitive information, have become a dominant concern for both individuals and businesses. Additionally, unauthorized access incidents nearly doubled, highlighting a worrying trend of cybercriminals targeting personal and corporate networks.
The report also noted the rise of Adversary-in-the-Middle (AitM) phishing attacks, which exploit session cookies to bypass traditional security measures. In response to these evolving threats, the NCSC is advocating for enhanced security practices, including multi-factor authentication and regular software updates.
Despite the surge in incidents, financial losses associated with cybercrime decreased by 19%, totaling $5.5 million in direct losses. However, 25% of reported incidents still resulted in some form of financial impact.
As the holiday season approaches, the NCSC warns consumers to remain vigilant against scams, urging them to visit its Own Your Online website for practical advice on recognizing and avoiding online threats. The report underscores the critical need for robust cybersecurity measures as cybercriminals continue to adapt and evolve.