Kiwis Losing $2M Every Month To Cybercriminals
Wednesday, 21 June 2023
The latest government statistics on cybercrime were released earlier today, and they paint a worrying scene for New Zealand businesses, with financial loss from cybercrime up 66% from Q4 2022. The report from Cert NZ shows that a total of $5.8 million was lost as a result of cybercrime in New Zealand in Q1 2023, with a total of 1,968 incidents being reported (up 12% from Q4 2022).
New Zealanders are being warned by the government agency to stay vigilant as cyber crime increases and financial losses mount. Cert NZ warned that not only are the traditional scams (such as fake romances) still active, but locals also need to watch for new approaches that are becoming increasingly commonplace.
Professional-looking documentation often now supports scams, and even search engine ads are being manipulated to redirect people away from legitimate sites and being used to trick people looking to invest money, said Cert NZ director Rob Pope.
"One scam campaign in February cost New Zealanders millions of dollars in a very short time, which reflects how quickly someone can lose their assets if they’re not alert. In general, the key is to always be vigilant. Take your time when you see investment opportunities online, verify exactly who you’re talking to, don’t give away your personal information and keep yourself secure online."
The report from Cert NZ also covered the emerging trends of artificial intelligence (AI) being used in scams. "AI can be used to write more convincing phishing emails in various languages, to create malicious code, and to even impersonate people in live chats," Pope said.
Alpha Safe has seen similar trends emerging, with the recent data breach of ChatGPT, a popular artificial intelligence model, and a data breach of Discord, a VoIP and instant messaging platform.
"Thanks to modern technologies, impersonation is easier than ever," says Alpha Safe CEO Simon Henshall. "Even when an email or text message appears to come from someone you know, it doesn't necessarily mean that it was really sent by that person. Both email addresses and phone numbers can be falsified. Always take the time to confirm the other party's legitimacy, especially when financial transactions are involved."
