CyberCatch Launches Unique AI-Enabled SaaS Solution for Organizations in EU to Comply with EU NIS2 Directive and EU AI Act and Avoid Severe Non-Compliance Penalties
Vancouver, British Columbia and San Diego, California–(Newsfile Corp. – May 13, 2024) – CyberCatch Holdings, Inc. (TSXV: CYBE) (“CyberCatch” or the “Company“), an innovative cybersecurity company offering an AI-enabled platform solution for continuous compliance and cyber risk mitigation, is pleased to announce the launch of a first-to-market, unique compliance risk mitigation solution, the EU Compliance Manager.
The EU’s NIS2 Directive mandates implementation of prescribed cybersecurity controls to mitigate cyber risk for organizations operating in EU. Non-compliance penalty is 10 million Euros or 2% of annual turnover, whichever is higher.
Additionally for organizations using AI, the EU AI Act mandates a risk assessment, prohibits certain uses of AI and implementation of controls for safe and responsible use of AI. Non-compliance penalty is 15 million Euros or 3% of annual turnover, whichever is higher. Non-compliance penalty for use of prohibited AI is 35 million Euros or 7% of annual turnover, whichever is higher.
“The stakes are high. Now with CyberCatch’s AI-enabled EU Compliance Manager solution any organization doing business in EU can quickly and cost-effectively comply with both mandates and mitigate risk,” said Sai Huda, founder and CEO, CyberCatch.
“CyberCatch is pleased to expand from North America to the EU market and bring our innovative, patented, AI-enabled SaaS solution to grow our customer base and deliver exceptional value to organizations in the EU,” said Huda.
To watch a demo, visit: https://cybercatch.com/eu-compliance-manager.
About CyberCatch
CyberCatch Holdings, Inc. (TSXV:CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Investor Relations
Phone: 1-866-753-2923
Email: info@cybercatch.com
SOURCE CyberCatch
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208832