A lack of regulation around disclosure of company breaches by hackers means most are going unreported leading to a sense of complacency, says professional services firm PwC.
Companies are not legally required to disclose whether they have been hacked or had information lost due to hackers, so breaches are often kept quiet. A 2011 law commission report into the privacy act recommended change, but this has yet to be implemented.
PwC hopes to shake up cybersecurity with the launch of Game of Threats - an online game that pits teams posing as a company and a hacker against one another so users can experience hacking and the tools hackers have at their disposal.
PwC partner Steven McCabe said New Zealand's relaxed thinking and hacking victim reticence has led to a sense of complacency and the impression that cybersecurity was not an issue in New Zealand.
"The privacy law here is 20 years old, so it's not equipped to deal with the digital age," McCabe said.