Cyberattacks in the UK recorded with an average cost of £4,200
Paradigm has announced the addition of a cybersecurity test module on its CPD Test Zone.
In a news release, the new addition was described as helping firms understand a range of related issues, including the most common types of cyberattacks, as well as the strategies to protect their business and prevent such attacks from happening using low-cost solutions. The new data also details the regulatory requirements in relation to such preparations and provides guidelines in setting up a cybersecurity plan.
Paradigm said the module can be used by all advisory firm staff; however, it is intended for senior managers or personnel who are responsible for the protection of a firm against breaches of data protection, as well as other financial crimes.
“By adding this cybersecurity module to the CPD Test Zone, firms – and specifically the individuals who are responsible in this area – can learn about the ways and means by which breaches can occur, and importantly, how they can protect their businesses and their clients against such activity,” said Christine Newell, mortgage technical director at Paradigm. “We know that firms are facing many challenges at present, due to market conditions, increasing workloads to get cases across the line, cost-of-living and staffing issues, but also potentially serious cyber threats. This test will provide valuable support in this area, and we hope that firms will consequently be better informed and better able to understand the possible threats, and what they can do to protect against them.”
Training and contents under the Test Zone
A UK Official Statistics Cyber Security Breaches Report recorded that, last year, 30% of businesses in the UK identified cyberattacks, while the National Cyber Security Centre has indicated a UK data breach or cyberattack costs a firm £4,200 on average.
The CPD Test Zone is part of Paradigm’s CPD Academy. It starts with videos followed by multiple choice questions and case studies for a learning experience for advisers that allows them to apply their learning in real situations. The full CPD Academy provides a wide range of CPD activities and training materials, as well as CPD-focused events and an extensive library for viewing.
The tests cover a range of topics, including anti-bribery and whistleblowing, anti-money laundering, certification, complaints handling, conflicts of interest, Consumer Duty, mortgage fraud, and vulnerable clients.
“At Paradigm, we are committed to offering firms access to a wealth of quality CPD and training materials which will ultimately enable them to deliver excellent customer outcomes. What firms also need to do is protect themselves and their clients, and one potential area of detriment is via cyber threats, data breaches and fraudulent activity,” said Newell.
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