tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, May 6th, 11:32AM

News

rss
Latest Headlines

Generate members' data accessed illegitimately

KiwiSaver provider Generate says its members' personal data has been accessed by unauthorised third-parties.

Wednesday, February 12th 2020, 7:32PM

Henry Tongue

The access happened between December 29, 2019 and January 27, 2020.

It does not affect members’ investments, which are held by Public Trust in a separate system.

This affects approximately 26,000 of the 90,000 members that have joined Generate over the past seven years. Generate has contacted all of its members individually to confirm whether or not their own personal information is among the data that was inappropriately accessed.

As well as outlining the steps the company is taking in response to this incident, advice has been provided to affected members about what steps they can take to minimise risks associated with inappropriate use of their personal information.

Chief executive Henry Tongue said the company had taken immediate action to secure the online application system, and is taking further steps to enhance online security.

"Unfortunately, malicious attacks of this nature are becoming more common both in New Zealand and globally, and constant vigilance is required. We have engaged external cyber security specialists to advise on our immediate response to this situation, as well as to conduct a broader audit and testing of all of our systems."

Generate has reported the incident to relevant authorities, including the Privacy Commissioner, the New Zealand Police, Inland Revenue and the Financial Markets Authority.

“As an organisation, we take the protection of our clients’ data very seriously, and we unreservedly apologise to all of our members for this situation. We are working hard to assist the members that are directly affected by this, and to enhance the security of our systems to prevent this type of incident occurring again in the future,” Tongue said.

Tags: cyber security Generate

« Regulation pushes firms to vertical integrationA number of buyers interested in AMP »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • The death of the single adviser FAP
    “Since the release of transitional license statistics earlier, I've expressed the view on various platforms that the number...”
    2 hours ago by dcwhyte
  • The death of the single adviser FAP
    “I totally agree with Tony, there will be a period in 2022, where the knowledge of the changes in the financial advice becomes...”
    3 hours ago by Elephant1
  • Why PI insurance premiums are rising
    “Why do the PI insurers/underwriters not share their apalling NZ claims statistics with the industry? (20-40% price increases...”
    6 hours ago by Tony Vidler
  • Why PI insurance premiums are rising
    “From what I've seen and heard so far PI underwriters are using the nice round number method to price premiums. ...”
    1 day ago by Matron
  • Why PI insurance premiums are rising
    “I can only assume any reference to increasing claims are either outside of NZ or are settled privately as I’m not hearing...”
    1 day ago by John Milner
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.25 2.59 2.89
ANZ 4.44 2.85 3.19 3.49
ANZ Special - 2.25 2.59 2.89
ASB Bank 4.45 2.25 2.59 2.89
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▼2.25 ▼2.55 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼2.85 ▼3.15 3.39
BNZ - TotalMoney 4.55 - - -
Lender Flt 1yr 2yr 3yr
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.40 3.50 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 2.25 - -
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.67 2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 ▼3.40 ▲3.64
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 ▼2.55 ▲2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 2.79 2.99 3.29
SBS Bank Special - 2.29 2.49 2.79
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 ▼2.25 2.59 2.79
The Co-operative Bank - Standard 4.40 ▼2.75 3.09 3.29
TSB Bank 5.34 3.05 3.29 ▲3.59
TSB Special 4.54 2.25 2.49 ▲2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 ▼2.85 3.19 3.49
Westpac - Offset 4.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - ▼2.25 2.59 2.89
Median 4.55 2.71 2.99 2.89

Last updated: 6 May 2021 10:51am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com