Training advisers to fight cyber threats
In support of Cyber Smart Week (October 21-27), NZ Financial Services Group (NZFSG) is stepping up its efforts to train financial advisers on how to combat rising cyber threats.
The organisation will launch an online webinar in partnership with CyberCX to ensure advisers are equipped with industry-best practices against cybercrime.
Throughout the week, NZFSG will align with CERT NZ’s campaign, providing tools and tips for staying secure online.
Luke Jarmaine (pictured above), chief information security officer at Loan Market Group (LMG), emphasised the need for vigilance.
“Recent cyber scams and phishing emails targeting advisers in New Zealand have demonstrated the increasing need to build more cyber resilient businesses,” Jarmaine said.
Cyber scams grow more sophisticated
NZFSG recently uncovered a phishing attack where a scammer posed as a first home buyer, attempting to trick an adviser into financing a fraudulent property purchase.
“We’re seeing attacks becoming a lot more sophisticated,” Jarmaine said. “It’s common nowadays for attackers to impersonate customers or other people in the financial transaction, building trust with advisers.”
These tactics, known as social engineering, aim to convince professionals to bypass security practices by exploiting personal trust.
Webinar to tackle cyber threat landscape
The October 22 webinar will be led by Laura Bennett, NZFSG’s security consultant for cyber education, and Leah Pinto from CyberCX, known as the cyber team lead on the TV show Hunted Australia.
The session will focus on the latest cyber threats and how intelligence-led security practices are becoming essential in the financial sector.
Jarmaine highlighted the significance of their strategy.
“At NZFSG, we have the industry’s first dedicated cybersecurity coach as part of our broader compliance and safety strategy,” he said.
Commitment to cyber security across the industry
NZFSG’s approach to cybersecurity is built on key pillars:
- Securing client and business data through enhanced processes and tools.
- Promoting cyber awareness to build a resilient community within NZFSG and LMG.
- Strengthening trust in their platforms by obtaining ISO27001:2022 certification and SOC2 Type 2 compliance.
“Advisers have significant responsibilities in handling data, and we’re committed to supporting them to meet these obligations,” Jarmaine said.
NZFSG continues to invest in secure technology frameworks that allow data-sharing without compromising safety, ensuring advisers can meet their compliance requirements in a growingly hostile cyber environment.
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