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: Tuesday, September 29th, 6:34PM

Investments

rss
Latest Headlines

Generate: Advisers dealing with questions

KiwiSaver provider Generate is encouraging advisers to refer clients who are worried about its recent hack back to its website.

Tuesday, February 18th 2020, 6:00AM 2 Comments

Henry Tongue

It revealed last week that there had been illegitimate access to its systems. Data about 26,000 members, including their ID documents and passwords, was accessed.

“We know that advisers are fielding questions from clients about this incident, both from affected Generate members and others. We want advisers to know that having taken immediate steps to secure our systems, we are working very hard to assist their clients who were affected,” said chief executive Henry Tongue.

“On Wednesday, as we were sending emails to all our members, letting them know whether or not their personal information was involved, we also contacted all the subscribers to our advisers’ mailing list, alerting them to the incident and recommending ways they could assist their affected clients.”

He said advisers who had clients in the scheme should ask them to log into their Generate account so they could see what information was involved.

They should also go to the website for steps to take to prevent harm.

"Advisers can also assure their clients that this incident affected our online application system information solely, and not our members’ KiwiSaver or other investment accounts, or the investments themselves, which are held in a completely separate system.

"As an organisation we take the protection of our members’ data very seriously. Unfortunately, as advisers will know, malicious attacks of this nature are becoming more common both in New Zealand and globally, so constant vigilance is required, which is why we are taking longer term steps to further strengthen the security of our systems. This is a key priority for us alongside continuing to perform strongly as an investment manager to deliver results for our members.”

Tags: cyber security Generate

« Morningstar: Don't expect another 2019Providers disagree on active advantage for responsible investment »

Special Offers

Comments from our readers

On 18 February 2020 at 6:16 pm generatkiwivictim said:
A facebook page generate kiwisavers victims has been set up to enable victims to band together to minimise the harm and make generate put this right.
On 18 February 2020 at 6:25 pm generatekiwisavervictim said:
A Facebook page to help victims of the data theft has been set up. "generate kiwisaver victims.
It will enable people to work together to minimize the damage this theft can cause and we are now working with a top NZ law firm to hold generate to account

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

News and information about KiwiSaver

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
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 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 3.85 3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 3.05 3.19 3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.55 2.69 2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.15 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.00 3.13 3.02

Last updated: 21 September 2020 10:48am

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