Reserve Bank of New Zealand committed to action as it responds to
Reserve Bank of New Zealand team
January 15, 2021
Governor of the Reserve Bank of New Zealand, Adrian Orr, says the
recent malicious and illegal breach of a file sharing application
used by the Bank is significant, and has our full attention.
Mr Orr says New Zealand’s financial system and institutions remain
sound, and Te Pūtea Matua is open for business. The standalone File
Transfer Application system that was breached has been secured and
“We apologise unreservedly to all of those impacted by the breach.
Personally, I own this issue and I am disappointed and sorry,” Mr
“Our investigation makes it clear we are dealing with a significant
data breach. While a malicious third party has committed the crime,
and we believe service provisions have fallen short of our
agreement, the Bank has also fallen short of the standards expected
by our stakeholders.”
A detailed forensic cyber investigation is underway and the Bank is
working directly with affected stakeholders whose information may
have been breached.
“We recognise the public interest in this incident and we
acknowledge there are serious questions that need to be answered
about how this incident occurred and how to strengthen our systems
and processes,” says Mr Orr.
“In addition to the forensic cyber investigation currently underway,
we have appointed an independent third party to undertake a
comprehensive general review of this incident. We will be as
transparent and clear as possible as this progresses, and will
release the review’s terms of reference shortly.”
immediate focus is on working directly with system users and those
who may have had their information compromised. It is a complex
process and accuracy and security are important. As our
investigations progress, we are prioritising direct engagement with
institutions and individuals affected. We thank stakeholders for
their patience and understanding.
“Be assured, we are taking action. We are working closely with
public authorities and utilising international experts as we
respond. We are doing so in a whole of Government framework,
utilising the National Security System.”
“We are not in a position to provide further details on the
investigation at this time as it could adversely affect the
investigation and the steps being taken to mitigate the breach,”
says Mr Orr.
Ongoing updates on the investigation process will be provided via
the Reserve Bank Data Breach Response page, and email service.