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DORA: Embracing New Challenges in Digital Operational Resilience
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By Sophie Le Goff, Partner Compliance Sia Partners
The financial sector has lately faced more and more sophisticated IT incidents, in parallel of a growing outsourcing phenomenon. The pandemic fueled the demand for digital expertise, compelling organizations to rely on external service providers and on enhancing their remote activities, opening a door for the multiplication of cyberattacks. In September 2020, the European Commission introduced a comprehensive set of measures, the "Digital Operational Resilience Act" (DORA), aiming to bolster security within the European Union's financial sector. This is even more true since the EU market is interlinked, meaning that a breach in one institution will have consequences on the entire market.
The...
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