$157m resolution of Canuck dairy dispute is not so black and white
Trade Minister Todd McClay says the negotiated resolution of the Canada-New Zealand dairy dispute will deliver up to $157m a year for Kiwi dairy exporters. That would nearly quadruple the $58m in dairy products we sold in Canada last year.
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Scoop
7 hours ago
- Scoop
Thousands Of Leaked NZ Govt And Health Agency Credentials On Dark Web
Press Release – nWebbed Julian Wendt, founder of Kiwi tech start-up nWebbed Intelligence, says the findings show New Zealand organisations are underestimating the scale and frequency of cyber risk. Thousands of leaked employee credentials from government departments, local banks and healthcare organisations are among more than 150 million compromised records tied to New Zealand accessible on the dark web, according to new research. The nWebbed NZ Cybersecurity Study, which analysed over 30 billion credentials available for sale on the dark web – a hidden part of the internet used as an illegal marketplace by criminals, has revealed an alarming level of vulnerability among Kiwi businesses, with compromised credentials linked to more than 198,000 New Zealand companies and entities. In addition, the usernames and passwords of more than 18,000 NZ Government workers, 3,200 banking staff and 2,000 healthcare organisation accounts with privileged access to sensitive information were also found in leaked databases on the dark web. The study analysed global breach records and cross-referenced them with local email domains to identify exposure. Julian Wendt, founder of Kiwi tech start-up nWebbed Intelligence, which has built the world's fastest-growing database of dark web credentials, says the findings show New Zealand organisations are underestimating the scale and frequency of cyber risk. He says an urgent review of cybersecurity protocols, credential management systems and third-party access controls across the country's sensitive institutions and corporations is needed to secure exposed systems and protect the privacy of consumers whose personal data is at risk. 'We are seeing widespread exposure of compromised credentials linked to core parts of the New Zealand economy, including health providers, government agencies, banks and large-scale businesses. 'These are trusted institutions that Kiwis interact with every day, and they are real emails and passwords sitting in the wild. They're searchable, for sale and vulnerable to exploitation,' he says. Wendt says many breaches are going undetected for months or even years, and the data is still circulating. 'It's not that someone was hacked once and that's it. In many cases, credentials from five or six separate breaches are still sitting out there, waiting to be exploited,' he says. Wendt says New Zealand urgently needs to shift away from reactive cybersecurity practices. 'You can't wait for the ransom note to start caring about where your data ends up. We need a preventative model, and that starts with visibility. 'Most organisations are watching their perimeter, not what's already leaked. But if your staff credentials are out there, especially admin or technical roles, then attackers already have the keys,' he says. Wendt says their database is growing by 2 billion credentials each month as the global rate of breaches accelerates. He says in response to the volume of sensitive credentials available online, nWebbed has launched a new threat monitoring platform that uses artificial intelligence to help organisations close critical security gaps in real time, enabling businesses to act before data is weaponised. Wendt says the time between a data leak and active exploitation is narrowing, particularly for high-value targets. 'In some cases, we've seen attackers move within minutes of credentials appearing online. They're using automated tools to scan for executive logins, technical roles or access to critical systems. 'What starts as a single leaked password can escalate into a live intrusion before an organisation even realises there's been a breach,' he says. Wendt says part of the problem is cultural. 'There's still this assumption in New Zealand that cybercrime is something that happens to big overseas companies. But in reality, our companies are being targeted every day, often because we're seen as a soft entry point into larger international networks. 'Nearly half of the Fortune 500 companies worldwide have exposed employee credentials available online, and Kiwi companies are facing similar threats. Compromised credentials can be used to access corporate networks, bypass multi-factor authentication or launch phishing attacks,' he says. Wendt says too many companies rely on outdated risk assessments and miss critical external vulnerabilities. 'Even organisations with good internal cybersecurity practices are often shocked to discover what's floating around publicly. That includes old passwords, unpatched web portals or documents they thought were private. It's not about blaming anyone, it's about visibility,' he says. Wendt says the next step is to raise awareness and get more Kiwi companies treating external digital hygiene as seriously as they do internal firewalls. 'Most breaches happen because someone didn't know their login details were already out there. This is a solvable problem if you're willing to look,' he says.
Scoop
8 hours ago
- Scoop
Thousands Of Leaked NZ Govt And Health Agency Credentials On Dark Web
Thousands of leaked employee credentials from government departments, local banks and healthcare organisations are among more than 150 million compromised records tied to New Zealand accessible on the dark web, according to new research. The nWebbed NZ Cybersecurity Study, which analysed over 30 billion credentials available for sale on the dark web - a hidden part of the internet used as an illegal marketplace by criminals, has revealed an alarming level of vulnerability among Kiwi businesses, with compromised credentials linked to more than 198,000 New Zealand companies and entities. In addition, the usernames and passwords of more than 18,000 NZ Government workers, 3,200 banking staff and 2,000 healthcare organisation accounts with privileged access to sensitive information were also found in leaked databases on the dark web. The study analysed global breach records and cross-referenced them with local email domains to identify exposure. Julian Wendt, founder of Kiwi tech start-up nWebbed Intelligence, which has built the world's fastest-growing database of dark web credentials, says the findings show New Zealand organisations are underestimating the scale and frequency of cyber risk. He says an urgent review of cybersecurity protocols, credential management systems and third-party access controls across the country's sensitive institutions and corporations is needed to secure exposed systems and protect the privacy of consumers whose personal data is at risk. 'We are seeing widespread exposure of compromised credentials linked to core parts of the New Zealand economy, including health providers, government agencies, banks and large-scale businesses. 'These are trusted institutions that Kiwis interact with every day, and they are real emails and passwords sitting in the wild. They're searchable, for sale and vulnerable to exploitation,' he says. Wendt says many breaches are going undetected for months or even years, and the data is still circulating. 'It's not that someone was hacked once and that's it. In many cases, credentials from five or six separate breaches are still sitting out there, waiting to be exploited,' he says. Wendt says New Zealand urgently needs to shift away from reactive cybersecurity practices. 'You can't wait for the ransom note to start caring about where your data ends up. We need a preventative model, and that starts with visibility. 'Most organisations are watching their perimeter, not what's already leaked. But if your staff credentials are out there, especially admin or technical roles, then attackers already have the keys,' he says. Wendt says their database is growing by 2 billion credentials each month as the global rate of breaches accelerates. He says in response to the volume of sensitive credentials available online, nWebbed has launched a new threat monitoring platform that uses artificial intelligence to help organisations close critical security gaps in real time, enabling businesses to act before data is weaponised. Wendt says the time between a data leak and active exploitation is narrowing, particularly for high-value targets. 'In some cases, we've seen attackers move within minutes of credentials appearing online. They're using automated tools to scan for executive logins, technical roles or access to critical systems. 'What starts as a single leaked password can escalate into a live intrusion before an organisation even realises there's been a breach,' he says. Wendt says part of the problem is cultural. 'There's still this assumption in New Zealand that cybercrime is something that happens to big overseas companies. But in reality, our companies are being targeted every day, often because we're seen as a soft entry point into larger international networks. 'Nearly half of the Fortune 500 companies worldwide have exposed employee credentials available online, and Kiwi companies are facing similar threats. Compromised credentials can be used to access corporate networks, bypass multi-factor authentication or launch phishing attacks,' he says. Wendt says too many companies rely on outdated risk assessments and miss critical external vulnerabilities. 'Even organisations with good internal cybersecurity practices are often shocked to discover what's floating around publicly. That includes old passwords, unpatched web portals or documents they thought were private. It's not about blaming anyone, it's about visibility,' he says. Wendt says the next step is to raise awareness and get more Kiwi companies treating external digital hygiene as seriously as they do internal firewalls. 'Most breaches happen because someone didn't know their login details were already out there. This is a solvable problem if you're willing to look,' he says.
RNZ News
8 hours ago
- RNZ News
The people quietly preserving a place for cash
The Reserve Bank is doing its once-every-two-year survey to understand how New Zealanders use, store and spend cash. Photo: 123RF As Kiwis' cash use comes under scrutiny, shopkeepers and emergency savers are among those quietly preserving a place for physical currency. At present, the Reserve Bank is doing its once-every-two-year survey to understand how New Zealanders use, store and spend cash. Dunedin residents, unscientifically surveyed by RNZ on Tuesday, said they were using cash for everything from groceries to public transport, pocket money, cheese rolls and, in Sheryn Wilson's case, to give to the less fortunate. "Occasionally, I'll get out $20 in change and give it to my granddaughter to give to the people along here. That's basically all I use it for. To give the homeless... but that's it," Wilson said. Physical money remained second preference to using a bank card, although she believed it was worthwhile to have a backup stash for emergencies. "It feels strange now to use cash. It feels old-fashioned and kind of dirty," she said. Clive Cockle said he always carried cash but tended to default to swiping his card. He said he also kept at least a few dollars for emergencies. However Daniel, who did not want his last name identified, said he actively avoided cash to try to restrain his spending. "I find it hard to save money if I've got cash lying around - I'll just spend it straight away. If I've got cash, every time I open my wallet, it's gone," he said. Clive Cockle said he keeps at least a few dollars for emergencies. Photo: VNP / Daniela Maoate-Cox This year, the Reserve Bank's random postal survey would ask people how they preferred to pay, how often they used cash, how easy it was to deposit and withdraw coins and notes, and whether they stored cash - and why. Reserve Bank's cash manager Ian Woolford said people's habits were shifting. The last survey found fewer people using cash day-to-day, but those who did used it more often and more people said they valued it for privacy and safety. "The work that we're doing is to make sure that consumers - citizens - can use it when and as they please," he said. The Dairy and Business Owners Group said it was becoming harder for shopkeepers to manage cash. Chairperson Ankit Bansal said some people were relying on dairies for small cash withdrawals when there were not banks nearby. But the reduced number of bank branches and the increase in 'cashless' banks made it hard for shopkeepers to maintain a float. Bansal said stores needed easy bank access because holding money on site was a safety risk. "Banks - this is their job. Essentially we're seeing them picking and choosing what services they're providing. So I hope to see some action on the banks," he said. Retail New Zealand chief executive Carolyn Young said cash was on the way out, although not in the near future. Fewer than one in ten nationwide retail transactions were now in cash, she said. "It's certainly always diminishing, but how long that tail is, we're not sure," Young said. Shopkeepers were not supportive of New Zealand First's recent members' bill, which would require making it mandatory for stores to take cash for purchases up to $500, she said. "Retailers... understand that cash is important, but they don't want to be dictated - that it's mandated. Part of it is what do people want and how do we make sure that that's working. It's not broken at the moment. We don't think that it's necessary," Young said. Jamie Jermain, the co-founder of the SquareOne app that helps children understand finance and managing their money, found some children didn't know what cash was. He said a tool kit was needed to teach children about money and it's value when cash is increasingly invisible in a digital world. "In this day in age, what kids are getting more and more used to seeing is their parents essentially tapping this magic wand on a terminal. They [young people] don't have that connection with money, they don't see how it works on a day-to-day basis," Jermain said. Educating children on how to earn, save and responsibly spend money is crucial for learning good money habits when children get older, Jermain said. "Those lessons are with them for life," he said. The Reserve Bank's survey closes on 10 October. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
