The UK Cyber Security Information Sharing Partnership (CISP) is successfully helping businesses detect and block more than 215,000 malicious IP addresses every day, according to Cabinet Office minister Francis Maude.
Maude revealed the figure during a speech at the opening dinner of the IA14 cyber security conference, citing it as proof of the CISP initiative's success.
"Cyberspace is simply too big for any organisation to have sight on everything that's going on and so there is a massive need to pool our information for mutual benefit. CISP enables government and business partners to exchange information on threats and vulnerabilities as they occur in real time," he said.
"Every day they notify members of around 215,000 abused IP addresses, so they can be blocked or dealt with. The secret of its success is very simple. It's about trust. CISP works because it has government involvement, but it's business-led. Companies are under no compulsion. Information is shared voluntarily."
CISP is an information-sharing initiative launched by the government in March 2013, which is currently managed by the UK's recently launched Computer Emergency Response Team (CERT).
Despite Maude's comments many industry experts have questioned CISP's effectiveness in helping small to medium sized-businesses (SMBs). Maude said the government has launched a wave of SMB-focused initiatives, such as the newly launched Cyber Essentials scheme, to help smaller businesses deal with cyber threats.
"We've also developed the new Cyber Essentials scheme, launched on 5 June. It gives businesses clarity on good basic cyber security practice and will provide protection against the most common threats," he said.
"After going through a certification process, businesses will be able to show they have the right measures in place by displaying the Cyber Essentials badge, which we hope becomes the cyber equivalent of the MoT certificate."
Maude added: "From October, the government will require all suppliers bidding for certain personal and sensitive information-handling contracts to be Cyber Essentials certified."
The Cabinet Office is one of many government departments working to improve the UK's cyber security. The GCHQ revealed new threat intelligence and intellectual property-sharing initiatives earlier at IA14.