Security Weekly Podcast Network (Audio) Enforcement of the Digital Operational Resilience Act (DORA) - Madelein van der Hout - BSW #381
Feb 5, 2025
Madelein van der Hout, Senior Analyst at Forrester, delves into the Digital Operational Resilience Act (DORA), a crucial framework to bolster the resilience of financial institutions against cyber threats. She discusses the compliance landscape, revealing the hefty fines for non-compliance and the importance of unified standards across Europe. The conversation also touches on the role of C-suite executives in fostering a cybersecurity culture, emphasizing accountability and effective communication as keys to operational success. Tune in for valuable insights!
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Impact on Smaller Organizations
- Consider the impact of DORA on smaller organizations with limited resources for compliance.
- They may struggle to bear the costs associated with meeting the regulations.
Non-Compliance Impact
- Non-compliance with DORA can lead to significant fines, up to 2% of global annual turnover or €2 million.
- Individual penalties can also reach up to €1 million, along with administrative measures.
Board-Level Accountability
- DORA emphasizes board-level accountability for ICT risk management, extending beyond the CISO.
- This shifts away from solely blaming the CISO for incidents.