Originally published by HLB Ireland.

HLB Cyber News Insights August 2024

In This Issue:

  1. Source: https://www.rte.ie/news/business/2024/0823/1466255-third-of-firms-put-money-aside-to-pay-cyber-ransoms/

  2. 20% Surge in Significant Cyber Incidents

    The National Cyber Security Centre (NCSC) reports a 20% increase in recent significant cyber security incidents, most of which are due to outages or errors caused by software or hardware failures. The Irish government’s new Cyber Security Plan allocates over €80 million to enhance national defences, including expanding the NCSC to 70 staff members by 2025. This strategy aims to bolster collaboration between public and private sectors, addressing the growing complexity of cyber threats to safeguard Ireland’s critical infrastructure and digital economy.

    Source: https://www.rte.ie/news/ireland/2024/0806/1463699-cyber-security-plan/

  3. Irish Businesses Face Hefty Fines up to €10 million for Non-Compliance with New EU Cybersecurity Law

    Irish companies are being alerted to the potential for substantial fines if they fail to comply with the new EU Network and Information Security Directive (NIS2), set to be enforced soon. The directive broadens the scope of industries covered and imposes stricter cybersecurity requirements on businesses. Non-compliance could result in penalties of up to €10 million or 2% of global turnover. This highlights the urgent need for companies to review and enhance their cybersecurity measures to meet these stringent new regulations.

    Source: https://www.independent.ie/business/technology/companies-warned-about-impending-fines-for-non-compliance-with-new-cyber-security-law/a87985922.html

  4. Ireland Falls to 8th in Global Cybersecurity Knowledge Rankings

    Ireland has dropped to 8th place globally in terms of cybersecurity knowledge, a decline that raises concerns about the country’s readiness to handle growing cyber threats. The latest rankings reflect a need for increased focus on cybersecurity education and skills development to maintain Ireland’s competitive edge in the digital landscape. As cyber threats become more sophisticated, the importance of strengthening cybersecurity expertise within the workforce is more critical than ever.

    Source: https://irishtechnews.ie/ireland-dropped-to-8th-place-in-the-world-in-terms-of-cybersecurity-knowledge/

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