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DORA Takes Effect: Financial Firms Navigating Compliance Headwinds
The EU’s Digital Operational Resilience Act (DORA) is here. The new legislation officially entered into force on January 17, 2025, and organizations falling under DORA’s scope can now face substantial penalties for non-compliance. The legislation aims to enhance cyber resilience in the financial sector and reduce the prevalence and impact of critical disruptions from cyber events, which have the potential to cause major damage to the global economy. The provisions apply to banks, insurance and investment…
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