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Cyber crime costing NZ millions each year - PM

Author
Natasha Jojoa-Burling,
Publish Date
Thu, 5 May 2016, 9:56AM
Prime Minister John Key speaking at New Zealand's first cybersecurity conference (Photo / Natasha Jojoa-Burling)
Prime Minister John Key speaking at New Zealand's first cybersecurity conference (Photo / Natasha Jojoa-Burling)

Cyber crime costing NZ millions each year - PM

Author
Natasha Jojoa-Burling,
Publish Date
Thu, 5 May 2016, 9:56AM

UPDATED 5.17PM The Prime Minister says cyber crime is one of the most enormous and immediate threats to New Zealand business.

John Key has announced $22.2 million will go towards fighting it, in this year's Budget.

A team called the Computer Emergency Response Team, or CERT, will be set up to respond to any threat to businesses, and will be in place from early next year.

Prime Minister John Key made the announcement at the country's first ever Cyber Security conference, at Sky City in Auckland, and said this team's job will be to help tackle the cyber threat that looms over our economy.

"Attacks threaten our economy. They can undermine our strategic and competitive advantages, and costs our economy millions of dollars each year.

"It's about making sure we remain open for business, and ensuring Kiwis are safe online."

Centre for Strategic and International Studies senior vice president Jim Lewis said cyber crime is a dynamic problem.

However, he said New Zealand has put in place many of the elements of a successful strategy.

"Does that mean it's perfect or you're done or you can go home now? No it does not. I said it's a dynamic problem and you'll have to continue to work on this.

"The real test is in implementation. The real test is in resources... and the real test is in political commitment."

Microsoft global vice president of security, Matt Thomlinson, is speaking at the Cyber Security Summit.

He likes the fact the the Government's Cyber Security Strategy has specific goals.

"Round capability or capacity building for the work force and bringing up security for small and medium business. It included goals around managing cyber crime."

The unit will be made up of $20 million in new operating funding and $2.2 million of new capital.

Mr Key said it will be a central part of New Zealand's cyber security architecture.

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