Mr. Sai Huda reports

CYBERCATCH LAUNCHES AI-ENABLED COMPLIANCE SOLUTION FOR NEW SEC CYBERSECURITY INCIDENT REPORTING AND RISK MANAGEMENT RULE

Cybercatch Holdings Inc. has launched its SEC Compliance Manager solution to enable compliance with SEC's new cybersecurity incident reporting and risk management rule.

Cybersecurity risk is one of the most significant risks facing just about every single company, and the SEC noted in the rule that on average:

• It takes 42 days to discover breaches;
• It takes 80 days to disclose a breach after discovery;
• $9.44-million is the average cost of a data breach.

The new SEC rule impacts 8,474 companies and mandates reporting and disclosure of a material cybersecurity incident within four business days and disclosure of cybersecurity risk management, strategy and governance, including board oversight over cybersecurity risk management.

The rule became effective Sept. 5, 2023. Reporting of material cybersecurity incidents is mandatory effective Dec. 18, 2023, and disclosure of cybersecurity risk management is mandatory for companies with fiscal year ending on or after Dec. 15, 2023.

Cybercatch's SEC Compliance Manager solution contains the 25 controls in the rule in order to attain compliance, along with an automated cybersecurity assessment workflow engine for gap analysis, supporting compliance evidence repository for each control, charts and graphs, and an AI-enabled (artificial intelligence) cybersecurity adviser with tips, insights and guidance to quickly and effectively attain and maintain compliance.

"Cybercatch's SEC Compliance Manager is a unique, first-to-market solution. Now, thousands of companies can efficiently and effectively attain and maintain compliance with SEC's new cybersecurity regulation. The 25 controls that are necessary, are not obvious in the rule, however, are captured and incorporated into our solution. Also, the built-in AI-enabled cybersecurity adviser with deep and unique insights is a force-multiplier value proposition for customers," said Sai Huda, founder, chairman and chief executive officer of Cybercatch.

The SEC Compliance Manager solution is offered as a software as a service (SaaS) with an annual SaaS fee based on the size of the organization.

About Cybercatch Holdings Inc.

Cybercatch Holdings is a cybersecurity company that provides a proprietary, AI-enabled SaaS solution that enables continuous compliance and cyber risk mitigation to organizations in critical segments so they can be safe from cyberthreats. 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.

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