A Christmas Day cyber attack on the Reserve Bank of New Zealand will cost $3.5m.
Details of the data breach and the hefty price tag were released along with an independent review by KPMG.
“The Bank estimates that the final cost of the breach response, including internal resources, will be around $3.5 million,” the RBNZ said in a statement.
Reserve Bank Governor Adrian Orr said the Bank accepted KPMG’s findings and apologised for the December 25 breach of the third-party file sharing application it used to share and store information.
File Transfer Provider Accellion failed to send out a warning that its FTA could be breached - but that patches were available. While those patches were available in December 2020, the RBNZ did not receive notification of the threat.
Accellion failed to send them and the bank was not notified until January 6 2021.
“While we were the victim of a widespread illegal attack on the file sharing…