Firms face €10m fines for cybersecurity breaches

Expanded Network and Information Security Directive (NIS2) holds executives personally liable and up to €10m in fines for organisations

A new directive set to be launched in Ireland in October 2024, could lead to 4,000 businesses in Ireland and their senior executives being personally liable and their organisations exposed to potential fines of up to €10m.

The expanded Network and Information Security Directive (NIS2) is being implemented to ensure businesses classified as essential and important entities take appropriate measures to enhance their cyber vigilance and protect sensitive data.

“The NIS2 directive is reshaping how we approach data management in Ireland, both in the public and private sectors”

The NIS2 directive is an EU-wide legislation on cybersecurity that provides legal measures to increase the overall level of cybersecurity in the EU, and urgently puts pressure on public and private sector organisations to determine its impact on their current cybersecurity posture.

In response to these challenges, Naas business OpenSky, the business process automation specialists & Microsoft Solutions Partner for Data & AI who use their expertise to bring AI to the centre of digital transformations, have now launched a new Data Management and Governance service for public and private sector organisations.

Best practice in data governance

Woman in white dress speaking at a podium.

Roseanne Killeen, acting CEO Ireland East Hospital Group

“The NIS2 directive is reshaping how we approach data management in Ireland, both in the public and private sectors,” said Michael Cronin, managing director of OpenSky.

“It’s an opportunity for us to lead by example, ensuring that our data strategies and AI implementations are secure, transparent, and aligned with the best practices in data governance.”

The expanded NIS2 Directive is estimated to impact about 4,000 businesses in Ireland, which is significant considering less than 100 businesses in Ireland are currently impacted by NIS1. The expanded NIS2 brings new categories where organisations in scope are either directly involved in the provision of essential services or connected to their delivery.

“Healthcare faces major hurdles in making data accessible across various departments, and this is due to numerous disconnected data silos,” said Roseanne Killeen, acting CEO Ireland East Hospital Group.

“Navigating the challenges around governance and prevention of data breaches can seem like an arduous task but it doesn’t have to be the case when you have access to all your data. We’re not only in a position to govern our data but we’re also now better equipped to provide accountability and transparency to the HSE.”

To assess your organisations’ eligibility for a funded Data Governance proof of concept, follow the link here

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