What Is DORA?

The Digital Operations Resilience Act (DORA) is a piece of EU legislation relating to the cyber security and digital of financial institutions.  Historically, financial organisations have managed much of their operational risk by taking measures to ensure their financial security (i.e., holding enough capital to ensure they can withstand economic downturns), and there are a number of EU and member state laws and regulations that govern and assure this.  

However, such measures do not cover ICT-related resilience, despite information and cyber security incidents also having the potential to cause serious disruption for financial organisations.  DORA is aimed at addressing this issue by ensuring that financial institutions have the capability to protect against, detect, contain, recover from and repair following ICT-related incidents.