In our digital era, reliance on information and communication technology (ICT) continues to grow. The heightened digitization and interconnectivity, however, escalate the risks associated with ICT, rendering it more susceptible to threats and disruptions in ICT services. Despite the pervasive use of ICT systems being a fundamental aspect of financial
THE DIGITAL OPERATIONAL RESILIENCE ACT (DORA): The European Commission, European Council Presidency, and European Parliament introduced DORA in 2020 to establish a structure for financial institutions and their service providers. The Council officially approved the preliminary edition of DORA in November 2022. Its purpose is to centralize and reduce ICT
WHAT IS COMPLIANCE? Compliance is a multifaceted process that ensures an organization follows applicable laws, regulations, and internal norms. Understanding and interpreting critical legal requirements is the first step, followed by developing and implementing internal policies. These policies govern staff behavior and decision-making, ensuring the organization’s activities meet legal requirements.