NZICT: Data breach penalties should be standard

CEO Brett O'Riley has told IT Brief that the NZICT would welcome any move focusing on improving cyber security.

Earlier today we reported that the British government had introduced legislation that could see companies fined up to £500,000 ($NZ1.059 million) for serious data breaches or losses.

Speaking about whether New Zealand would welcome such a move, New Zealand Information and Communication Technologies Group CEO, Brett O’Riley, told IT Brief today, “We support any move that is about improving cyber security and the integrity of data.”

He continued, “NZICT is aware of proposals to establish a centre of excellence for cyber security in New Zealand and given that there are a number of New Zealand companies that have a significant track record in this area, we would see it as an opportunity for New Zealand to potentially be a global leader in this space. Having our own data environment in order would be a pretty essential part in that.”

O’Riley said that having penalties in place for serious data breaches should be standard practice as it would force businesses to take cyber security more seriously than they currently do. “Unfortunately, until people lose data they don’t appreciate not only the impact it has on their business, but the effect it has on customers, partners and others.

“This whole area is a core part of 21st Century productivity for business. We’re not just talking about getting rid of risk, that comes across as a negative angle. The positive side is that having these measures in place can improve productivity greatly.”