CyberCatch Announces Cybersecurity Solution To Protect Thousands of Drinking Water Systems in U.S. that EPA OIG Report Reveals are at Risk of Cyber Attack with One-Day Disruption Cost of $43.5 Billion

Rhea-AI Summary

CyberCatch Holdings has announced a cybersecurity solution targeting thousands of U.S. drinking water systems following an EPA OIG report that revealed severe vulnerabilities. The report found that over 70% of inspected water systems fail to comply with legal cybersecurity requirements, with 308 systems serving 109.3 million people having exploitable vulnerabilities. The company's SaaS solution offers continuous compliance and cyber risk mitigation through attack surface mapping, AI-enabled benchmarking, expert remediation, and automated testing. According to U.S. Water Alliance, a one-day disruption in water service could impact $43.5 billion in economic activity.

Positive

• Company identifies new large addressable market in critical infrastructure
• Solution addresses documented compliance gaps in water systems affecting 109.3 million people
• Market opportunity validated by EPA OIG report showing 70% non-compliance rate

Negative

• None.

Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - December 2, 2024) - CyberCatch Holdings, Inc. (TSXV: CYBE) ("CyberCatch'' or the "Company"), a cybersecurity company offering an AI-enabled platform solution for compliance and cyber risk mitigation, highlighted today how its unique solution protects drinking water systems from falling victim to a cyberattack causing severe damage to the economy.

The U.S. Environment Protection Agency (EPA) Office of Inspector General (OIG) issued a report on November 13, 2024, revealing that over 70 per cent of inspected water systems fail to comply with legal cybersecurity requirements and an alarming level of cybersecurity vulnerabilities have been discovered at drinking water systems across the U.S. with severe risk to the economy.

There are 51,000 water systems that serve approximately 300 million people in the U.S. Of the 1,062 drinking water systems serving over 193 million people in the U.S. that the EPA OIG scanned for vulnerabilities, 308 systems had cybersecurity vulnerabilities that attackers could exploit to cause loss or denial of service or theft of customer or proprietary data, impacting 109.3 million people.

According to U.S. Water Alliance, a one-day disruption in water service across the U.S. could jeopardize $43.5 billion in economic activity.

CyberCatch's Software-as-a-Service (SaaS) solution enables continuous compliance and cyber risk mitigation with a comprehensive value proposition consisting of:

• A visual attack surface map discovery of the entire system that attackers can exploit
• AI-enabled benchmarking and gap analysis to legal cybersecurity requirements
• Expert cybersecurity controls remediation via fractional CISOs
• Implementation of all necessary cybersecurity controls to attain full compliance
• Incident response plan and testing of the plan via cyberattack simulation
• Continuous three dimensional automated cybersecurity controls testing (outside-in, social engineering and inside-out) and remediation
• Continuous threat analysis and expert guidance via fractional CISOs
• Ongoing cybersecurity awareness training of the human firewall

"Drinking water systems are a high value target for cyber attackers for disruption and financial gain, since they are the lifeline to the economy with severe potential impact but often lack resources and technical knowledge to adopt adequate cybersecurity practices," said Sai Huda, CEO, CyberCatch.

"However, with CyberCatch, now every single drinking water system, no matter their size or location, can quickly attain compliance with requirements and stay safe from cyber threats."

"CyberCatch already serves other critical infrastructure segments in North America and drinking water systems now provides CyberCatch with another large immediate addressable target market segment to serve and further grow its customer base with an optimal solution that is a must-have."

To learn more and request demo, visit CyberCatch.

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: 1-866-756-2923
Email: info@cybercatch.com

SOURCE CyberCatch

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232055

FAQ

What cybersecurity vulnerabilities did the EPA OIG report find in U.S. drinking water systems?

The EPA OIG report found that 308 out of 1,062 drinking water systems had exploitable cybersecurity vulnerabilities that could cause service disruption or data theft, affecting 109.3 million people.

What is the potential economic impact of a water system cyberattack according to the CyberCatch (CYBHF) announcement?

According to U.S. Water Alliance data cited in the announcement, a one-day disruption in water service across the U.S. could jeopardize $43.5 billion in economic activity.

What key features does CyberCatch's (CYBHF) water system cybersecurity solution offer?

The solution offers attack surface mapping, AI-enabled benchmarking, expert remediation via fractional CISOs, compliance implementation, incident response planning, automated testing, and continuous threat analysis.