Over half of NZ companies exposed to cybercrime


More than half of New Zealand organisations are not prepared for cybercrime.

That is according to a report from financial services firm PWC.

Its Global Economic Crime Survey found that 40 percent of New Zealand respondents think it is likely they will be the victim of cybercrime over the next two years.

But 55 percent of the organisations told PwC they do not have a plan to respond to an incident of cybercrime, or have one but it is not yet been activated.

PwC Forensic Services Partner Eric Lucas says: "There is too much being left to chance".

"Today more than ever before, a passive approach to economic crime is a recipe for disaster."

The survey found:

The top five types of fraud in New Zealand were asset misappropriation, cybercrime, procurement fraud, human resources fraud and accounting fraud.

Internationally PwC's survey found that financial services organisations reported the highest number of economic crime incidents (48 percent), followed by government and state-owned enterprises (44 percent).