Beginning Friday, Jan. 17, all EU financial institutions are now required to operate in compliance with the Digital Operational Resilience Act (DORA). The EU directive aims to increase cybersecurity in the financial industry. However, studies show that many companies are still struggling with implementation. According to a November 2024 survey from metafinanz, the average level…
Category: Compliance, Financial Services Industry, Regulation, Security
Compliance, Financial Services Industry, Regulation, Security, Global Security News
EU’s DORA could further strain cybersecurity skills gap
Efforts spent in achieving compliance with the EU’s Digital Operational Resilience Act (DORA) are likely to pile further pressure on the already strained cybersecurity skills market. DORA, which comes into full effect today, aims to improve the cybersecurity and operational resilience of financial institutions in the EU, including banks, insurance companies, and investment firms. The…