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Cyber attack disrupts New Zealand’s stock exchange

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Cyber attacks disrupt New Zealand’s stock exchange.

New Zealand’s stock exchange, NZX, recently suffered cyber attacks on six consecutive working days, resulting in it being unable to facilitate trading in shares. The attacks were “distributed denial of service” or DDoS attacks. Typically, criminals who carry out DDoS attacks request a ransom payment to prevent the attacks in the first place or to cease attacks and not carry out any more.

Insight

In most cases, the greater loss to businesses occurs when a DDoS attack prevents them from providing services to customers, so they lose income due to downtime and may incur liability to customers if their inability to provide services causes their customers to suffer loss. There are also significant intangible losses such as damage to reputation.

All businesses should undertake a risk assessment to understand their vulnerabilities in the event of a DDoS attack and what losses they may suffer, so that they can put appropriate security measures to prevent such events happening.

If your organisation is looking to comply with the requirements of the GDPR then take a look at how our CSaaS and DPaaS solutions can help.

Appointing NormCyber as our virtual DPO has given Ferrero the best of both worlds – access to data protection experts who understand what we stand for as a business, without the hefty overheads usually associated with appointing an in-house DPO.

Harpreet Thandi
Regional Counsel, UK & Ireland, Ferrero

We were looking for a virtual DPO service that offered all of the benefits of a fully qualified data protection lawyer, without the overheads of an in-house hire. The DPaaS solution from norm. has been invaluable in helping us to ensure we respect the integrity of our customers’ personal information, while using it to continue to deliver differentiated products and services which support our growing customer base.

Mike Whitfield, Compliance Manager
Marmalade

CSaaS allows me to step away from multi-vendor management as the Security Operations Centre coordinates all of the technology for me.

David Vincent, CTO
Perpetuum

We were in the market for an independent Data Protection Officer service that was well versed with both UK and EU regulators. We’re thrilled to have acquired this service knowing that an expert is available 24/7.

Suzanne McCabe, Head of Project Management
James Hambro & Partners

Norm’s penetration testing layer, along with the suite of CSaaS modules has enabled MA to exceed all its audit requirements for its major clients.

Rob Elisha, ICT and CRM Manager
Montreal Associates

The speed of your Data Protection Officer’s response was very impressive – it was far quicker than I would have expected even from an in-house DPO

Will Blake, Director of Technology and Analytics
CRU Group