With the threat of cyberattacks on businesses more severe today than ever before, the Missouri Chamber of Commerce and Industry is supporting legislation to create a grant program for employers to help enhance their cybersecurity protection.
The Senate Governmental Accountability Committee recently heard testimony on HB 668, sponsored by Rep. Dan Houx (R-Warrensburg).
This bill establishes a one-time grant program for businesses to enhance their cybersecurity protection. This legislation caps the grant program at $10 million, and individual businesses can receive up to $15,000 total. The program reserves 50 percent of the funds for small businesses with 1-50 employees.
“Many of us don’t realize there are cyberattacks going on constantly throughout our day,” Houx told the committee. “We’re just trying to help small businesses be able to get this protection.”
Missouri Chamber Vice President of Governmental Affairs Kara Corches testified that small businesses are the top target for cyber criminals because they think these businesses don’t have any cyber defense. In a recent poll, 80 percent of Missouri Chamber members said cyberattacks are a growing concern.
“Your hometown realtor is often a top target,” Corches said. “Think about escrow accounts and when they send out a link to someone buying their first home. It could be devastating, because someone could do a business compromise email and redirect that escrow payment to an overseas account.”
A companion cybersecurity bill, SB 380, is being sponsored in the Senate by Sen. Brian Williams (D-St. Louis).
For more information, contact Corches at kcorches@mochamber.com or call (573) 634-3511.
