➡️ Emmanuel NICAISE’s Post

DORA is coming! No not the fun cartoon explorer but the new regulation that will change how a lot of European companies have to do security in the Financial Sector. Why does it matter? Because it's placing a larger emphasis on resilience, proactive security & supply chain risk - all areas that have been terribly neglected & led to most breaches in recent years. Here's some of the highlights: ➡️ Operational Resilience Is a Must: DORA mandates robust systems and processes to ensure businesses can operate through disruptions...no excuses! ➡️ Third-Party Risk Focus: Stricter oversight on critical third-party providers (like cloud services) means enhanced due diligence and monitoring. ➡️ Unified EU Framework: One standard across the EU simplifies compliance but raises the bar for cross-border businesses. ➡️ Incident Reporting Obligations: Faster and more detailed reporting of cyber incidents is required...speed and accuracy are critical! ➡️ Proactive Testing: Regular digital operational resilience testing is non-negotiable, ensuring systems can withstand real-world threats. If you want to learn more about how Anecdotes can help you with these requirements DM me or check out my blog on DORA readiness - https://lnkd.in/ePKZeWaY (I'll also post the link in the comments). #DORA #GRC #compliance #cyber #anecdotes ————————————————————————— 🔴Follow me & connect to stay in touch ⚪️Repost to your network & community ⚫️Watch my Pod - Risking It All on infosec.live

The International Monetary Fund (IMF) has announced a significant security breach that occurred in February, resulting in the compromise of 11 email accounts. Detected on February 16, the incident marks a serious concern for global financial security protocols. Incident Overview: Date of Discovery: February 16, 2024 Compromised Data: 11 email accounts Investigation: Ongoing efforts to assess the scope and impact. The breach underlines the critical importance of robust cybersecurity measures. In an era where digital threats loom large, the need for advanced protective strategies has never been more apparent. Implications for Cybersecurity: 👉 Organizations must ensure continuous monitoring and updating of their security protocols. 👉 Training and awareness programs are essential to equip staff with the skills needed to recognize and respond to potential threats. Moving Forward: The IMF is currently reassessing its cybersecurity defenses and will likely enhance its strategies to prevent future incidents. This event serves as a stark reminder for all organizations to review and strengthen their cybersecurity measures. For those in the financial and security sectors, this incident is a call to action to prioritize cybersecurity and protect sensitive information from such vulnerabilities. Stay informed and prepared. Ensuring the security of digital assets is crucial in safeguarding the integrity of global financial systems. #CyberSecurity #IMF #DataBreach #DigitalSecurity #FinanceSecurity

The International Monetary Fund has included a chapter in their report specifically on cyber risk, citing cyber attacks as "..an acute threat to macrofinancial stability through a loss of confidence, the disruption of critical services, and because of technological and financial interconnectedness". Some highlights: - National Strategies: Countries need robust national cybersecurity strategies and better governance to mitigate risks. - Enhanced Reporting: Financial firms must improve how they report cyber incidents to better monitor and manage risks. - Accountability at the Top: Board members should be responsible for fostering a risk-aware culture and overseeing cybersecurity measures. - Preparedness: Firms should develop contingency plans to remain operational during cyber crises, supported by national crisis management protocols. There are some very interesting data and good visualisation throughout the chapter - its worth a read: #cyberpsychology #praxisnavigator #humanriskmanagement #praxissecuritylabs #IMF #cyberrisk Kai Roer Thea Mannix Jacopo Paglia

Everything You Need to Know About The Digital Operational Resilience Act (DORA) DORA (Digital Operational Resilience Act) (Regulation (EU) 2022/2554) is the newest EU regulatory framework for ICT risk management to help financial institutions build better cyber resilience. The regulation establishes uniform requirements for the financial sector regarding the security of its networks and information systems. Key focus areas include robust incident reporting, rigorous third-party oversight, and standardized resilience testing. The deadline for all EU organizations or businesses that operate in the EU to comply with DORA's requirements is expected to be January 17, 2025. DORA aims to harmonize risk and resilience management, ensuring a secure and resilient financial ecosystem across the EU. Are you ready for DORA? Is it applicable to you? To learn more, please visit our latest #blog today! https://lnkd.in/d73AG9NX Ardent Privacy Sameer A. Shivraj Jadhav Sushil Raverkar Scott Suhy Tejas Joshi #CyberSecurity #FinancialServices #DORACompliance #LegallyDisruptive #DigitalResilience #DORA #FinancialSector #CyberSecurity #ICTRiskManagement

Attention to the Deadline for DORA Regulations! The Digital Operational Resilience Act (DORA) is about to take effect in the European Union, and financial sector companies have until January 17, 2025, to fully comply with these new regulations. DORA’s objective is to strengthen digital resilience and ensure that financial institutions are prepared to handle potential cyber threats, maintaining the integrity and continuity of their operations. Key requirements include: 🔹 Digital Risk Management: Adopting a robust approach to identify, monitor, and mitigate digital risks. 🔹 Data Security and Protection: Implementing strict measures to ensure data security. 🔹 Operational Resilience Testing: Conducting regular tests to assess recovery and incident response capabilities. 🔹 Third-Party Monitoring: Establishing controls over third-party service providers to minimize risks along the value chain. Don’t wait until the last minute! Aligning with DORA is an opportunity to review and strengthen processes, as well as demonstrate a commitment to digital security and customer trust. If you need support in understanding DORA requirements or implementing the necessary changes, our team is here to help! #DORA #DigitalResilience #Cybersecurity #Compliance #Regulation

📢 The EU's #NIS2 Directive marks a significant step in cybersecurity regulation. Read more below and stay informed on NIS2's business implications with CyXcel. #Cybersecurity #Compliance #EURegulations #DigitalResilience

Calling all cybersecurity pros in Europe! Are you part of a Security Operations Center (SOC) or a Managed Security Service Provider (MSSP)? Ensuring NIS2 compliance is key! But don't fret, Binalyze has your back with essential insights their latest blog. Key insights include: 🔍 Understanding NIS2: The Directive on Security of Network and Information Systems is leveling up cybersecurity in the EU, extending to critical sectors like energy, transport, banking, health, and more. 📅 Key Dates: NIS2 kicks in on October 17, 2024, allowing time for adjustments. It's a proactive step toward a safer digital landscape. 🛡️ What NIS2 Covers: From critical entities to risk management measures and reporting obligations, it's a comprehensive framework to safeguard vital sectors. 🔍 Steps to Compliance: Assess, implement, report, and ensure supply chain security. Don't overlook documentation—it's crucial! ❌ Dealing with Non-compliance: Heavy fines and reputational damage await those who don't comply. But fear not—Binalyze is here to help! 🔐 Binalyze: Your Compliance Partner: Our AIR platform is tailor-made for NIS2 compliance. With expert guidance, a free trial, and ongoing support, we've got you covered at every step. Stay ahead of the curve with Binalyze! Read our latest blog here: https://ow.ly/m6GY50QYFtj #NIS2 #Cybersecurity #Compliance #BinalyzeAIR

Calling all cybersecurity pros in Europe! Are you part of a Security Operations Center (SOC) or a Managed Security Service Provider (MSSP)? Ensuring NIS2 compliance is key! But don't fret, Binalyze has your back with essential insights their latest blog. Key insights include: 🔍 Understanding NIS2: The Directive on Security of Network and Information Systems is leveling up cybersecurity in the EU, extending to critical sectors like energy, transport, banking, health, and more. 📅 Key Dates: NIS2 kicks in on October 17, 2024, allowing time for adjustments. It's a proactive step toward a safer digital landscape. 🛡️ What NIS2 Covers: From critical entities to risk management measures and reporting obligations, it's a comprehensive framework to safeguard vital sectors. 🔍 Steps to Compliance: Assess, implement, report, and ensure supply chain security. Don't overlook documentation—it's crucial! ❌ Dealing with Non-compliance: Heavy fines and reputational damage await those who don't comply. But fear not—Binalyze is here to help! 🔐 Binalyze: Your Compliance Partner: Our AIR platform is tailor-made for NIS2 compliance. With expert guidance, a free trial, and ongoing support, we've got you covered at every step. Stay ahead of the curve with Binalyze! Read our latest blog here: https://ow.ly/m6GY50QYFtj #NIS2 #Cybersecurity #Compliance #BinalyzeAIR

Attention to the Final Deadline for DORA Regulations! The Digital Operational Resilience Act (DORA) is about to take effect in the European Union, and financial sector companies have until January 17, 2025, to fully comply with these new regulations. DORA’s objective is to strengthen digital resilience and ensure that financial institutions are prepared to handle potential cyber threats, maintaining the integrity and continuity of their operations. Key requirements include: 🔹 Digital Risk Management: Adopting a robust approach to identify, monitor, and mitigate digital risks. 🔹 Data Security and Protection: Implementing strict measures to ensure data security. 🔹 Operational Resilience Testing: Conducting regular tests to assess recovery and incident response capabilities. 🔹 Third-Party Monitoring: Establishing controls over third-party service providers to minimize risks along the value chain. Don’t wait until the last minute! Aligning with DORA is an opportunity to review and strengthen processes, as well as demonstrate a commitment to digital security and customer trust. If you need support in understanding DORA requirements or implementing the necessary changes, our team is here to help! #DORA #DigitalResilience #Cybersecurity #Compliance #Regulation

Business ecosystem risk is becoming more problematic. For any organization, the partners in its ecosystem are both the greatest asset and the biggest hindrance to a secure, resilient and trustworthy digital future. According to the WEF Global Cyber Security Outlook 2024, 41% of the organizations that suffered a material incident in the past 12 months say it was caused by a third party! In 2015, I did my first cyber risk assessments, where the focus was set on entire ecosystems and third parties. Later, in Corporate Intelligence, we constantly improved our methods to identify risks associated with third parties beyond cyber security considering subjects like bribery, fraud, armed-forces financing or ecological damage. We regularly discovered dubious business partners who might otherwise have gone unnoticed. Today, almost 10 years later, regulators in the US, EU, UK or Switzerland require companies - especially those ones considered critical or relevant - to assess their business and provider ecosystem for risks and improve resilience against failures or attacks.