WASHINGTON, D.C. – Congressman Brian Fitzpatrick (PA-08) introduced bipartisan legislation Thursday to better protect America’s small businesses, and their operational and customer information, from cyber attack.
“As a member of the both the Small Business Committee and the Homeland Security Committee’s Subcommittee on Cybersecurity & Infrastructure Protection, I understand that cybersecurity is a complex and serious national and economic security issue that our country will continue face over the decades to come. As such, we need to take action now to ensure we’re protecting our nation’s infrastructure and businesses,” said Fitzpatrick. “This bipartisan legislation is a crucial step toward ensuring small businesses in our communities have the tools and training to protect themselves, and their customers, from cyber attacks.”
H.R. 3968, the Small Business Cybersecurity Enhancement Act, creates a loan guarantee program that would allow small businesses to acquire cybersecurity technology and services.
“Small businesses face a real and growing danger from cyber attacks, and we need to do more to help them defend against these threats,” said Schneider, a cosponsor of the bill. “Hacking and security breaches hurt not just the targeted businesses but also put our personal information and data at risk. The bipartisan Small Business Cybersecurity Enhancement Act would help more small businesses take the necessary steps to protect themselves and their customers.”
In their 2015 Year-End Economic Report, the National Small Business Association noted that “42 percent of small businesses report they have been the victim of a cyber-attack.” The average loss to a business whose banking account was compromised by a cyber attack was more than $32,000. Under the legislation, small businesses are defined as those who have 100 or fewer employees.