By Costas Papadopoulos*
The European Union’s Digital Operational Resilience Act (DORA) marks a watershed moment in financial services regulation, introducing comprehensive requirements for digital resilience across the sector. With regulators setting a firm compliance deadline of January 17, 2025, financial institutions are working to adapt their operational frameworks.
The urgency of DORA implementation cannot be overstated. In an era where cyber threats have surged dramatically – with financial institutions experiencing a massive increase in ransomware attacks in 2023 alone – the need for robust digital resilience has never been more critical.
