‘Vulnerable’ SMEs to get discount on Government-backed cyber security scheme

Thousands of small businesses will be offered cut-price training on the basics of cyber security under new Government funding, following several high-profile hacks.

SMEs and micro businesses will be eligible for a 75% discount on the Cyber Essentials certification programme.

The Government will allocate £2.4 million to cover the cost of the discount, which is estimated to reach around 6,000 businesses.

The programme, developed by the National Cyber Security Centre, is the minimum standard of security that the Government recommends and is designed to help companies of all sizes prevent the most common internet-based cyber attacks.

Cyber security minister Liz Lloyd said SMEs were “particularly vulnerable in the age of rising cyber threats”.

“We are not going to sit back and let malicious actors take advantage – we will back our SMEs and make them match-fit,” she said.

The new funding comes hot on the heels of a series of high-profile cyber attacks.

Last week, around 6.3 billion US dollars (£4.7 billion) was stolen from Binance wallets, making it the largest cryptocurrency theft in history, according to the crypto exchange.

Organisations including blockchain intelligence companies have accused a North Korean hacking unit of being behind the attack.

Elsewhere in October, fashion marketplace Asos said an “unauthorised party” had gained access to an employee’s account, leading customers to receive a phone alert saying that the retailer had been hacked.

Asos said the attacker gained access to some personal data, including names and contact details belonging to customers.

Last year, a major cyber attack on Jaguar Land Rover forced the carmaker to stop production at its factories for several weeks, weighing heavily on its sales and overall financial performance.

The 75% discount on the Cyber Essentials scheme will mean firms could pay as little as £80, and no more than £125, plus VAT, to get the certification.

It will be on a first come, first served basis to businesses that have not been certified in the last four years and will be available until March, or until the allocated funding runs out.