THE DIGITAL OPERATIONAL RESILIENCE ACT (DORA) 

⇒   DORA Key Objectives 

•  Enhancing Cyber Resilience:  DORA aims to bolster the cyber resilience of financial institutions, market infrastructures, and digital service providers by establishing clear standards and requirements for managing cyber risks. It emphasizes the implementation of robust cybersecurity measures, such as risk assessments, incident response plans, and regular security testing, to mitigate the impact of cyber threats.
•  Improving Incident Reporting and Response:  Under DORA, organizations operating in critical sectors will be required to promptly report significant cyber incidents to competent authorities. This facilitates timely response and coordination efforts to mitigate the impact of cyberattacks and prevent further disruption to essential services. Enhanced incident reporting mechanisms enable authorities to analyze trends, identify emerging threats, and develop proactive measures to strengthen cyber defenses.
•  Promoting Cross-Sector Collaboration:  DORA encourages collaboration and information sharing among public and private stakeholders to enhance situational awareness and response capabilities. By fostering a collaborative ecosystem, DORA facilitates the exchange of threat intelligence, best practices, and technical expertise, enabling organizations to better anticipate, detect, and respond to cyber threats collectively.
•  Establishing Harmonized Standards:  DORA aims to establish harmonized cybersecurity standards and requirements across the EU, ensuring consistency and coherence in cybersecurity regulations. By setting common baseline standards, DORA simplifies compliance efforts for organizations operating across multiple jurisdictions while maintaining high levels of cybersecurity across the EU.