New Zealand’s Federal Reserve Bank has issued a statement regard a recent data breach, noting that it is addressing the issue with haste. This is after unknown persons accessed its file sharing serving, the platform it uses to communicate information to its external stakeholders.

Adrian Orr, the Reserve Bank’s governor, noted that the public has nothing to worry about regarding the breach as it is under control. He also added that the bank’s key functions are functioning optimally. Although he added that it might take some time for them to figure out how much damage they sustained.

He went on to state they are working with domestic as well as international cyber security specialists in their investigation. That includes the National Cyber Security Center’s GCSB, who were notified and are now offering guidance on the way forward.

Orr noted that third party firm they are working, which was targeted is no specific to the bank, and that other users on the platform were also impacted. He noted that giving more information on the matter would jeopardize their ongoing investigation. The reserve bank promised to continue working with all affected stakeholders.

while addressing this development, Ian Pollard, the managing director at Delta insurance, stated that he has noticed an more customers are making cyber insurance claims since the start of the pandemic., although the underlying exposure has always been there.

Currently, the reserve bank is looking for ways to secure its data and has taken the steps to take their systems offline for them moment until investigations are concluded.

Source: https://www.insurancebusinessmag.com/nz/news/cyber/reserve-bank-of-new-zealand-responding-with-urgency-to-data-breach-243223.aspx

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