DORA aims to enhance financial organizations' resilience to cyber threats by establishing comprehensive IT risk management and support frameworks tailored to each organization's profile.
The regulation mandates periodic testing of digital resilience and emphasizes improved chain security, particularly for critical ICT service providers in the financial sector.
An essential feature of DORA is the information-sharing regime that allows financial institutions to collectively share intelligence on cyber threats, thereby improving overall risk mitigation.
Non-compliance with DORA poses severe risks for organizations, as central banks will incorporate it into their supervision practices, leading to potential sanctions.
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