Navigating DORA Compliance: Preparing for the EU's New Digital Operational Resilience Regulation
The European Union’s (EU) new Digital Operational Resilience Act (DORA) is set to reshape how financial institutions handle their cybersecurity and operational risks. With enforcement from January 2025, DORA will impose a range of new standards and requirements. While there is an awareness of DORA in the marketplace, some firms do not fully understand its risks and consequences due to its broad scope. Similar to the introduction of the EU GDPR, many businesses might underestimate the effort needed to achieve compliance.