News and Updates on Information Technology

New Zealand – New Zealand Stock Exchange (NZX)

Exploit: DDoS/Hacking Attack
New Zealand Stock Exchange – Commercial and Financial Trading

Risk to Small Business: 1.113 = Extreme

It has been a wild week for businesses, investor, and stock traders in New Zealand ad a series of cybersecurity incidents in rapid succession caused trading to stop and start several times. The market faced disruptions for four days last week when it was hit repeatedly by distributed denial of service (DDoS) attacks, affecting both cash trading and other transactions while taking down its internet capabilities. Officials claim that the attacks are coming from an “offshore” source, and may be connected to recent hacking troubles in Australia. As of 8/30 the problem was still reoccurring and being addressed by NZX, the Financial Markets Authority (FMA), Spark, and a U.S.-based cybersecurity firm Akamai Technologies

Individual Risk: No personal information or consumer financial data has been reported compromised in this incident.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Nation-state cyberattacks are growing in frequency and scale as hacking ramps up into a formidable weapon to use to interrupt a country’s business and financial systems. backing up data and controlling access points helps guard against these attacks.