In 2024, Ireland's businesses are facing a formidable challenge with the sharp increase in cyber attacks and the impending NIS2 Directive fines for non-compliance. Based at Munster Technological University (MTU), Cork, Project Manager of Cyber Skills, Jacqueline Kehoe sheds light on these critical issues and how organizations can prepare.

Listen back to Jacqueline's full interview on 92.5 Phoenix FM here

🔍 Rising Cyber Threats: According to the latest Hiscox Cyber Readiness Report, 71% of Irish businesses experienced at least one cyber attack in the past year—a 22-point increase from the previous year. This positions Ireland as 'ground zero' for cyber attacks globally, with the highest median number of attacks among all countries studied.

💡 NIS2 Directive Fines: The EU Cyber Security directive, NIS2 (Network and Information Security), introduces severe financial penalties for non-compliance, effective from October 2024. Despite these threats, over 70% of Irish executives remain unaware or unprepared for NIS2 compliance, according to a recent Cybersecurity Trends Report from Microsoft Ireland.

📊 Critical Gaps in Cybersecurity Preparedness:

• 56% of businesses do not conduct regular risk assessments to identify vulnerabilities in systems and networks.
• 62% lack a multilayered IT strategy covering prevention, detection, response, and recovery.

The global IT outage on July 19, caused by a faulty software update from CrowdStrike, serves as a stark reminder of our vulnerability to technological failures. Although not a malicious attack, it had a disastrous impact on airlines, media outlets, banks, and retailers worldwide. Imagine the devastation of a real cyber attack coupled with hefty NIS2 fines.

At Cyber Skills, part of a broad initiative to enhance Ireland's cyber security and resilience, expert-led courses (now 80% government funded) are designed to help organizations meet NIS2 requirements and strengthen their cybersecurity defences. Comprehensive training programs cover essential topics such as cybersecurity risk frameworks, incident response, and secure network services, ensuring participants are well-prepared to fend off attacks and comply with new regulations.

Jacqueline Kehoe, Project Manager of Cyber Skills emphasises, "Cyberattacks are on the rise, and the introduction of the NIS2 Directive means that the cost of non-compliance is now higher than ever. By focusing on the directive’s core principles—identify, protect, detect, respond, and recover—public bodies can be equipped to handle both current and future cybersecurity challenges."

Unrivalled in cybersecurity education, Cyber Skills is a collaboration between Munster Technological University, University of Limerick, and Technological University Dublin. This unique partnership brings together top educators and researchers, offering unparalleled expertise and resources to enhance the cyber resilience of Irish businesses and public bodies.

Listen back to Jacqueline's full interview on 92.5 Phoenix FM here

Find out if your organisation is required to adhere to NIS2 using PWC's free online resource at https://www.pwc.ie/services/audit-and-assurance/regulation/nis2-directive.html