DORA Operational Resilience Regulation
European Union
2022
Cybersecurity
Overview
The Digital Operational Resilience Act (DORA) is a European Union regulation (Regulation (EU) 2022/2554) that was adopted in December 2022. It creates a unified framework for digital risk management in the financial sector. DORA applies directly to both financial entities and critical third-party ICT service providers.The regulation aims to ensure that all entities in the banking, insurance, investment, payments, crypto, and fintech sectors can withstand, respond to, and recover from ICT-related disruptions and cyber threats. It bridges gaps in existing cybersecurity rules across EU member states by enforcing consistent obligations.
Key Obligations
- Implement risk management and cybersecurity policies across networks and IT systems
- Report significant cyber incidents to the national CSIRT within 24 hours
- Conduct regular vulnerability assessments and use multi-factor authentication
- Appoint a cybersecurity officer and ensure board-level accountability
- Maintain business continuity and crisis management plans
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