RBNZ proposes collecting more financial entity data on cyber incidents

WELLINGTON, May 8 (Reuters) – The Reserve Bank of New Zealand is proposing collecting financial entity data on cyber incidents to better understand cyber risks and resilience in the financial sector, it said in a statement on Monday.

The central bank said it is proposing introducing mandatory reporting of material cyber incidents with 72 hours of detection, reporting of all cyber incidents periodically even if they are not material, and a regular survey on cyber resilience.

The central bank is currently seeking feedback on the proposal before deciding whether to implement the new rules.

RBNZ Director of Prudential Policy Kate Le Quesne said collection of this information will improve the bank’s understanding of cyber resilience in the financial sector.

Image by: REUTERS/David Gray/File Photo/File Photo

Top Stories

Related Articles

The Digital Banker is a globally trusted news, business intelligence and research partner to the worldwide financial services sector. Our consultants and subject matter experts provide thematic research, data driven insights and forecasts, exclusively across the global Financial Services sector.

Copyright © 2023 The Digital Banker

Shopping Cart

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?
    • Decoupling with China and the emerging global economic order
    • Turbocharging innovation through DeFi
    • Digital Ecosystems and Platformisation in Retail Finance
    • BNPL and Digital Payments: Prospects and Challenges
    • The evolution of risk and role of the CRO
    • Data as the new oil to fuel growth (from a banking context)
    • Private wealth and philanthropy
    • The winners and losers in the race of global fintech
    • Reimagining Banking in the Metaverse
    • Sustainable Finance – Approaching Net Zero and Beyond
    • Global Banking Outlook 2024

    Indonesia, Jakarta

    • Core modernisation as a catalyst for unlocking new growth
    • Combatting the super app through platformisation
    • Building future-ready infrastructure with the highest standards of security and protection
    • Open banking, third-party API integration and pioneering microservices for a unified mobile experience

    Thailand, Bangkok

    • How can banks maintain their competitive position through platformisation, BaaS and embedded finance?
    • Operating in the era of digital currencies and new payment schemes
    • Cloud migration and enabling the digital experience that customers desire
    • Developing new customer engagement models with the advent of the Metaverse

    Philippines, Manila

    • Leveraging analytics and alternative data sources to drive financial inclusion
    • Mitigating emerging sources of risk emanating from new technologies
    • How can banks unlock value through a modern and agile platform?
    • Leading innovation through shift in mindset to embrace Web 3.0 driven opportunities

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.