[The Wrap] Generate hack a wake up call to all
We hear about cyber attacks constantly these days and often there seems like there is a “it-won’t-happen-to-me-because-I-am-too-small” attitude.
Financial advisers I’d argue are a high risk area because they hold so much valuable information on clients. Arguably mortgage brokers hold the most valuable information to cyber crooks.
While we don’t know the details of the Generate attack there are questions around why it took so long to detect. Also there is talk client data was captured at the front end.
You’d have to wonder if this is an issue for other KiwiSaver providers, especially the smaller players.
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