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ARTICLE · 11 DECEMBER 2024

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DORA: Exploring How Each Financial Entity Is Defined

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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All eyes in the financial services industry are slowly turning towards the EU's Digital Operational Resilience Act (DORA), which will be applicable from 17 January 2025 and will impose different types

CyprusFinance and Banking
Emilios Charalambous
Emilios Charalambous
Michael Ioannou
Michael Ioannou
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All eyes in the financial services industry are slowly turning towards the EU's Digital Operational Resilience Act (DORA), which will be applicable from 17 January 2025 and will impose different types of principles and requirements on financial entities and their third-party technology providers. Aiming to strengthen the IT security of financial entities such as banks, insurance companies and investment firms, the regulation comprehensively covers areas of ICT risk management, digital operational resilience testing, information sharing and oversight of critical third-party providers, amongst other functions.

But none of that matters unless a financial entity falls under the scope of DORA.

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