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The Digital Operational Resilience Act: Essential Guide – Part 2

The Digital Operational Resilience Act: Essential Guide - Part 2 The European financial sector faces increasing cyber threats and operational disruptions. Consequently, the sector is now subject to the Digital Operational Resilience Act (DORA). This article, the second part of our essential guide, follows our initial overview of DORA in "Digital Operational Resilience Act: Essential Guide - Part 1". We now delve into the specific technical cybersecurity requirements and controls mandated by DORA. Our exploration will cover critical aspects including encryption, access control, network segmentation, real-time monitoring and threat detection systems. Financial entities must implement these systems to strengthen their digital defences. Furthermore, this article highlights the often-overlooked importance of contractual clauses with ICT providers. It also addresses the necessary resource allocation for testing and reporting as financial institutions actively navigate DORA compliance in 2025. DORA Cyber Security Requirements & Technical Controls DORA's technical security requirements establish prescriptive standards financial

By |2025-05-09T13:33:17+00:00May 9th, 2025|Blog|0 Comments
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The Digital Operational Resilience Act: Essential Guide – Part 1

The Digital Operational Resilience Act: Essential Guide - Part 1 The Digital Operational Resilience Act (DORA), effective January 2025, imposes significant cybersecurity obligations on more than 21,000 EU financial institutions. It demands robust technical safeguards, rapid incident reporting (within four hours), structured risk management and third-party oversight. This technical guide breaks down DORA's compliance parameters and offers actionable implementation strategies for the 2025 deadline. Understanding the DORA Digital Operational Resilience Mandate The Digital Operational Resilience Act constitutes a paradigmatic recalibration in EU financial sector cybersecurity governance. Diverging from conventional regulatory frameworks predicated primarily on capital adequacy, DORA establishes technological resilience as a coequal determinant of financial stability in mitigating digital disruption vectors. What DORA Means for Financial Firms in 2025 Upon full implementation on 17 January 2025, DORA will impose rigorous operational resilience parameters across over 22,000 financial entities operating within EU jurisdictions. This regulatory perimeter extends to a diverse

By |2025-04-30T13:58:41+00:00April 30th, 2025|Blog|0 Comments
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Cultivating Your Digital Fitness Through Cyber Resilience

Cultivating Your Digital Fitness Through Cyber Resilience We often talk about cyber security in the language of physical health – computer "viruses," digital "hygiene." However, what happens when, despite our best efforts at washing our virtual hands and taking our digital vitamins, a threat still infiltrates our systems? This is where the crucial concept of cyber resilience comes into play – the ability to not only withstand attacks but to bounce back stronger and adapt to future threats. Indeed, even the most robust cyber security measures can be breached. Therefore, cyber resilience acknowledges this reality. It's the digital equivalent of recovering from an injury, whether it requires a simple digital bandage or more extensive system "surgery." Consequently, the key is having a plan in place before the inevitable happens. Today, in a landscape of ever evolving and increasingly sophisticated cyber threats, cyber resilience is no longer a luxury;  rather, it’s

By |2025-04-10T11:31:25+00:00April 10th, 2025|Blog|0 Comments
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Do You Know These Secrets About Your Supply Chain?

Do You Know These Secrets About Your Supply Chain? In today's hyper-connected global economy, managing supply chain risk isn't just about knowing your immediate suppliers. It's about understanding the intricate web of extended supplier connections, stretching from your fourth-tier partners to potentially countless others. This complexity introduces unprecedented challenges for businesses striving for operational resilience and robust information security. The Limitations of Traditional Third-Party Management Many organisations believe they've tackled supply chain risk by meticulously mapping their direct third-party suppliers. However, this only scratches the surface. The real vulnerabilities lie in the 4th to Nth party connections , often invisible to traditional risk assessment methodologies. Why Extended Supplier Connections Matter Expanded Attack Surface: A breach at a distant supplier can ripple through the network, impacting your organisation's data and operations. Regulatory Compliance: Increasingly stringent regulations, like GDPR and ISO 27001, demand visibility into the entire supply chain, not just direct

By |2025-03-13T14:39:26+00:00March 13th, 2025|Blog|0 Comments
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Ransomware and Supply Chain: How Vendors Create Victims

Ransomware and Supply Chain: How Vendors Create Victims Ransomware attacks are a growing menace, causing significant disruption and financial loss. In 2024, these attacks reportedly cost businesses an estimated $9.5 trillion globally. This escalating trend highlights the critical need for robust cyber security strategies. A particularly concerning aspect is the vulnerability introduced through Supply Chain product vendors, who, inadvertently or otherwise, can become a gateway for Ransomware. The Role of Supply Chain Vendors Supply Chain vendors are integral to modern business, providing essential software and hardware components. However, this reliance creates a potential weak link. These vendors often possess sensitive information about their client organisations, making them attractive targets for cyber criminals. A compromised vendor can provide attackers with a foothold into multiple organisations simultaneously. Vendor-Related Risks: Several factors can increase the risk of Ransomware attacks originating from Supply Chain vendors: Unpatched Vulnerabilities: Vendors failing to promptly patch security flaws in their

By |2025-02-20T13:21:02+00:00February 20th, 2025|Blog|0 Comments
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Building an Unbreakable Supply Chain Security System

Building an Unbreakable Supply Chain Security System A robust Supply Chain is the lifeblood of any successful business. However, this intricate web of suppliers, vendors and partners presents a significant vulnerability: security breaches. Recent high-profile attacks and alarming statistics underscore the urgent need for comprehensive Supply Chain Security management. A CPG manufacturer's £22 million inventory cost saving through effective security exemplifies the tangible benefits, while the 2023 Security Breaches Survey highlights the alarming lack of minimum-security standards among UK businesses' suppliers. This article delves into the critical steps required to construct an "unbreakable" Supply Chain Security system, empowering your organisation to navigate the evolving threat landscape and safeguard your operations. The Alarming Reality: Identifying Supply Chain Threats The surge in Supply Chain attacks is staggering, with a 2,600% increase since 2018 and over 54 million victims in 2023 alone. The complexity of modern Supply Chains, relying heavily on interconnected suppliers,

By |2025-03-04T08:15:06+00:00February 4th, 2025|Blog|0 Comments
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Telecom Namibia Data Breach – Predictable and Avoidable?

Was the Telecom Namibia Data Breach Predictable and Avoidable? A Supply Chain Risk Management Perspective Introduction One Tue 10th, December 2024 a notice was published by a Threat Actor ransomware group called Hunter International stating that Telecom Namibia Limited was allegedly hacked. The objective of this post is to examine this incident from a Supply Chain Risk Management (SCRM) perspective. To assist prospects and existing customers in setting up and maturing their SCRM programs, I always recommend reviewing past incidents to understand if any of the incidents were predictable and avoidable and what mitigating steps should have been taken by all parties. Telecom Namibia (TN) is a great case in point and all the evidence surrounding this incident is still fresh. At present the incident is still under investigation to determine the root cause. However, if I was a betting person, I would wager that the evidence below is part

By |2025-01-16T14:32:43+00:00December 19th, 2024|Blog|0 Comments
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Ransomware vs. Malware: Key Differences and Security Measures

Ransomware vs. Malware: Key Differences and Security Measures In today's digital age, cyber threats have become increasingly sophisticated and prevalent. Two of the most common cyberattacks are Ransomware and Malware. While both pose significant risks to individuals and organisations, they differ in their objectives and methods. Understanding the key differences between Ransomware and Malware is crucial for implementing effective security measures to protect your digital assets. What is Malware? Malware, short for malicious software, is a broad term encompassing various types of software designed to infiltrate computer systems without the user's knowledge or consent. Malware can be categorised into several types, including: Viruses: Self-replicating programs that attach themselves to other files and spread through networks. Worms: Self-propagating Malware that can spread independently without requiring user interaction. Trojan Horses: Malicious programs disguised as legitimate software, often used to steal data or grant unauthorised access. Spyware: Software that secretly monitors user activity

By |2024-12-05T12:04:45+00:00December 5th, 2024|Blog|0 Comments
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Digital Operational Resilience Act: Financial Institutions

Digital Operational Resilience Act: Financial Institutions The Digital Operational Resilience Act is a landmark piece of legislation designed to strengthen the cyber security and operational resilience of financial institutions within the European Union. As the financial sector continues to become increasingly digital, the need for robust defences against cyber threats has never been more critical. Digital Operational Resilience Act aims to address this need by establishing a comprehensive framework for managing digital risks and ensuring the stability of the financial system. In this article “Digital Operational Resilience Act: Financial Institutions”, we will delve into the key aspects of Digital Operational Resilience Act, explore the steps financial institutions can take to assess their existing frameworks and discuss strategies for implementing effective compliance and remediation measures. Understanding Digital Operational Resilience Act and Its Implications The Digital Operational Resilience Act (DORA) is a significant piece of legislation aimed at strengthening the resilience of

By |2024-11-22T15:59:34+00:00November 22nd, 2024|Blog|0 Comments
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How to Uncover Your Susceptibility to a Ransomware Attack

How to Uncover Your Susceptibility to a Ransomware Attack Ransomware attacks continue to pose a significant threat to organisations worldwide. However, traditional security measures often prove ineffective against increasingly sophisticated attack vectors. In light of this, vulnerability assessment has become more crucial than ever for cyber security teams. A systematic review can greatly enhance teams' understanding of their exposure to Ransomware attacks by evaluating security controls and identifying potential weak points. To effectively identify these vulnerabilities, security professionals must thoroughly assess their organisation's defense capabilities. Elasticito's article “How to Uncover Your Susceptibility to a Ransomware Attack” offers a comprehensive evaluation encompassing several key areas. By conducting this security review, organisations can fortify their defenses against evolving Ransomware threats. Assess Your Current Security Posture The numbers are indeed alarming - businesses deal with Ransomware infections every 11 seconds, which adds up to a massive £15.71 billion annually worldwide. A complete assessment

By |2024-11-08T09:44:58+00:00November 7th, 2024|Blog|0 Comments
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