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By Oriane KAESMANN, Research Manager the LHoFT
The Digital Operational Resilience Act (DORA), enacted by the EU on 16 January 2023, aims to strengthen the financial sector’s ability to manage ICT-related risks, including those highlighted by the COVID-19 pandemic and rising cyber threats. It introduces a standardized framework for operational resilience, ensuring that financial institutions and their critical third-party providers, like Google Cloud, maintain robust risk management, ongoing resilience testing, and transparent incident reporting.
DORA places significant emphasis on securing digital infrastructures and minimizing service disruptions, which are crucial for market stability and consumer trust. The regulation will officially apply...
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