This has been designed to help firms understand a range of related issues, including the most common types of cyber-attacks, how to protect their business, and which  low-cost solutions can help mitigate these risks.

The module also details the firm’s regulatory requirements around cybersecurity, and gives information on how to write and implement a realistic cybersecurity plan.

While the module will be suitable for all advisory firm staff, Paradigm said it will be of specific interest to senior managers who are responsible for protecting the firm against data protection breaches and financial crime.

The CPD Test Zone is part of Paradigm’s CPD Academy and provides video learning, followed by multiple choice questions and case studies, to help advisers put this theoretical information into practical use.

Tests cover a range of topics such as anti-bribery and whistleblowing, anti-money laundering, certification, complaints handling, conflicts of interest, Consumer Duty regulations, mortgage fraud, and vulnerable clients.

Paradigm said that according to official UK statistics 39% of UK businesses identified cyber-attacks last year. The National Cyber Security Centre indicates the average cost of a UK data breach or cyber-attack is £4,200.

Paradigm mortgage technical director Christine Newell says: “By adding this 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.”

She adds: “Under Consumer Duty, we know firms will be looking at their training and competency schemes, and seeking more ways to demonstrate their personnel are always taking a customer-centric approach and understanding how to approach certain scenarios. We now have 16 tests available for firms to use as part of their annual training programs.”