The Digital Operational Resilience Act
("DORA") is a European Union
("EU") Regulation which entered into
force on 16 January 2023 and is aimed at strengthening the
operational resilience of the EU's financial services sector
against information and communication technology
("ICT") cyber-attacks.
Organisations to which the provisions of DORA will be applicable
have until 17 January 2025 – approximately 10 months from now
- to implement measures to comply with the Regulation.
The purpose of DORA practically, is to ensure business
continuity in circumstance of an unexpected disruption by, for
example, system downtime as a result of malicious activities by
unauthorised threat actors. The EU's objective in implementing
DORA is to require in-scope firms to put in place measures to
withstand, react to, and mitigate against cyber-related disruptions
and risk.
