Scammers make $5.8m in first quarter

Scammers make $5.8m in first quarter
Credential harvesting – username and password theft – was the most reported issue. (Image: Depositphotos)
Ella Somers
New Zealanders lost almost $6 million from financial fraud in the first quarter of 2023 due to username and password theft.The Computer Emergency Response Team (Cert NZ) tallied up 1,968 cybercrime incidents in the three months ended March 31, up 12% from the December quarter.A total of 30% of incidents reported financial loss – 264 people lost between $100 and $1,000, while 16 people lost over $100,000.The losses bring the total reported to Cert NZ to $39.6m since the second quarter of 2021.Cert NZ's director, Rob Pope, said while th...

More Technology

FMA seeks feedback on tokenised products impact
News in Brief

FMA seeks feedback on tokenised products impact

The Financial Markets Authority (FMA) is seeking feedback on the implications of the growing market for tokenised products.Tokenisation, which involves converting real or virtual assets into digital tokens that can be stored and traded on a blockchain, has the potential to influe...

BD AI 8:58am
Big profits, minimal tax: New report on how to make Google, Facebook pay fair share of tax
News in Brief

Big profits, minimal tax: New report on how to make Google, Facebook pay fair share of tax

“Dodgy” but not necessarily illegal – and this could be tested.This is how tax expert Nick Miller describes the financial practices of Big Tech multinational giants – including Google, Facebook, Amazon, Microsoft, and Oracle – which make a lot of money in New Zealand and pay mini...

No encore: Potentia exits Vista stake
Markets

No encore: Potentia exits Vista stake

Despite board snub, Australian investor is still keen on NZ software businesses.

No upgrade needed: Rimini Street’s cost-saving pitch to CIOs
Technology The Business of Tech Podcast

No upgrade needed: Rimini Street’s cost-saving pitch to CIOs

In this week's podcast, Peter talks to Seth Ravin and Joe Locandro of Rimini Street.