DORA Compliance & Requirements

This post was originally published on ZPE Systems

The European Union’s Digital Operational Resilience Act (DORA) creates a regulatory framework for information and communication technology (ICT) risk management and network resilience. It entered into EU law on 16 January 2023 and takes effect on 17 January 2025, applying to any firm operating within the European financial sector. This guide outlines the technical requirements for DORA compliance and provides tips and best practices to streamline implementation.

Citation: Digital Operational Resilience Act (DORA)

Which organizations does DORA affect, and what are the consequences of non-compliance?

DORA applies to financial entities operating in the European Union, including:

Financial services Payment institutions Crypto-asset service providers Crowdfunding service providers Investment firms Insurance companies Data analytics and audit services Fintech companies Trading venues Credit institutions Credit rating agencies

Crucially, DORA also applies to third-party digital service providers that work with financial institutions, such as colocation data centers and cloud service providers.

Once DORA takes effect, each EU state will designate “competent authorities” to enforce compliance. Each state determines its own penalties, but potential consequences for non-compliance include fines, remediation, and withdrawal of DORA authorization.

ICT service providers (such as cloud vendors) labeled “critical” by the

Read the rest of this post, which was originally published on ZPE Systems.

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