Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - July 30, 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 its proprietary next-gen enterprise cybersecurity awareness training solution for small to large organizations globally.
According to Cybersecurity Ventures, approximately $5.6 billion is spent on cybersecurity awareness training globally, and yet according to Verizon's Data Breach Investigations Report (DBIR) 74% of data breaches are due to human errors.
Data breaches and ransomware attacks are extremely costly. According to IBM's Cost of a Data Breach Report, globally average cost of a data breach is $4.5 million, while the average cost of a ransomware attack is $5.1 million to an organization, not including ransom payments. According to Chainalysis, over $1.1 billion was paid out in ransom payments in 2023.
Current cybersecurity awareness training solutions are rudimentary, not very engaging, ineffective, and are not providing a return on investment.
CyberCatch's "HackOps" a Cybersecurity Learning Game is a unique, virtual reality next-generation cybersecurity education and awareness training solution as part of its CyberSavvyIQ series for the enterprise that teaches the learner to "think like an attacker so they can defend like the chess master."
It is based on recent blockbuster cyberattacks, data breaches and ransomware attacks globally, and combines best of both worlds (movies and games) to provide a memorable learning experience that is beyond the basics, extremely engaging and fun, and highly effective to transform the learner into a strong human firewall.
The learner acts as a "newbie hacker" and learns how:
- Hackers do reconnaissance
- Spear phishing is crafted and executed
- Front-door Internet-facing IT assets vulnerabilities are exploited
- Third-party vulnerabilities are exploited to break in from the back door
- Data is exfiltrated and ransomware is installed and what could have prevented the harm from occurring
- Unknown back doors are left behind and why
Through the process of gamification "HackOps" can be played using VR headsets such as Meta Quest, Oculus, Pico, among others, or even using a desktop or laptop, and have the same immersive, memorable learning experience.
"CyberCatch's "HackOps" immerses the learner in a non-technical way and teaches how cyber attackers think and behave, so that the learner does not commit mistakes that enable or facilitate data breaches and ransomware attacks. We are positioned to transform cybersecurity training enterprise-wide and deliver an exponential return on the investment for effective risk mitigation," said Sai Huda, CEO, CyberCatch.
"According to Cybersecurity Ventures, the Cybersecurity training market is projected to grow from $5.6 billion to $10 billion by 2027, based on 15 percent year over year growth. CyberCatch is poised to break into this adjacent market and generate significant revenues," said Huda.
To watch a demo of CyberCatch's solution, visit: https://cybercatch.com/cybersavvyiq
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/218201
SOURCE: CyberCatch Holdings, Inc.
