CARES Act Payments Must Be Used by December 30, 2020
Is your municipality trying to decide where to allocate funds received through the CARES Act? It is important to put CARES Act money into a worthy cause or investment but be aware that it is equally important to know that you must put it to use by December 30, 2020.
The CARES Act established the astounding $150 billion Coronavirus Relief Fund. What is even more astounding? Cybercrime is set to cost businesses $5.2 trillion in the next 4 years according to Accenture. Government agencies, healthcare companies, and small businesses are the top cyber-attack targets.
How Should You Use Your CARES Act Payments?
The United States Department of the Treasury under the CARES Act requires that the payments from the Coronavirus Relief Fund only be used to cover expenses that follow three main guidelines:
- The expenses must be necessary and must have incurred due to the public health emergency – COVID 19.
- The expenses were not accounted for in the most recently approved budget as of March 27, 2020
- The expenses were incurred between March 1, 2020 and December 30, 2020
More specific information and guidelines on the CARES Act can be found at this article on the U.S. Department of the Treasury website.
Using your CARES Act money towards cybersecurity practices can save you massive amounts of cyber and financial loss. ThreatAdvice Educate by NXTsoft can prepare your employees to defend against costly cyberattacks. ThreatAdvice vCISO by NXTsoft is a comprehensive cybersecurity solution to monitor your cybersecurity stauts and protect you from cyberattacks.
ThreatAdvice Educate by NXTsoft
ThreatAdvice Educate by NXTsoft is a one stop shop for training your employees to be cyber responsible when it comes to protecting your municipality form cyber-attacks. 90% of cyber breaches occur due to an employee not being educated in the basics of cybersecurity and not being prepared when a cyber-attack presents itself. Cyber-attacks are as simple as an email with a link that shuts down your whole system and costs you invaluable time, data, and money. ThreatAdvice Educate Premium Solution can help prevent this and provide the knowledge and skills training your employees need to be successful in protecting your municipality against cyber-attacks.
ThreatAdvice vCISO by NXTsoft
ThreatAdvice vCISO by NXTsoft is a comprehensive cybersecurity solution for your municipality. Hiring a Chief Information Security Officer (CISO) can be costly, but a cyber breach would be even more so. Threat Advice’s virtual Chief Information Security Officer (vCISO) ensures elucidations to your cybersecurity and reduces the likelihood of cyberattacks by implementing proper policies. The propriety vCISO dashboard allows you to have clear insight to the status of your municipality’s cybersecurity program without costing you the salary of a new officer position. ThreatAdvice vCISO includes employee training and up to a $500,000 warranty. Protect your municipality and community with ThreatAdvice vCISO by NXTsoft.