Budget improves cyber threat response
New Zealand’s ability to respond to major cyber events and provide cyber threat intelligence is boosted in Budget 2018, says Broadcasting, Communications and Digital Media Minister Clare Curran.
“We’re committing $3.9 million of new operating funding over the next four years to the Computer Emergency Response Team (CERT).
“CERT was established just over a year ago. The new funding means it can continue to respond to major cyber events and provide advice to businesses, organisations and individuals who may be affected by cyber security incidents,” says Clare Curran.
“We’re dealing with threats such as disruptive malware, denial-of-service attacks and theft of data perpetrated by a range of actors, including organised criminal groups and vigilante hackers.
“Reported financial losses in the year to the end of April show that New Zealanders lost more than $5.3 million from known cyber incursions. We need to improve our capabilities now to get ahead of these threats.
“There are a range of victims – the corporate sector, government agencies, small businesses and individuals – so it is crucial CERT is funded to enhance its trusted and authoritative services,” says Clare Curran.
In addition to the CERT funding, Budget 2018 also invests in the Ministry of Business, Innovation and Employment’s ability to deliver on the Government’s communications policy, infrastructure and digital economy priorities.
“Budget 2018 provides $6.2 million of new operating funding over the next four years so the Ministry can continue to provide policy advice on communications issues, such as 5G mobile networks and ultra-fast broadband,” says Clare Curran.