Tag: banking

As the digital threat landscape evolves, no risk exists in a vacuum. With the increased reliance on third-party vendors, the risks organizations face from cyber threats can have impacts extending beyond the company, posing potential harm to consumers and even entire economies. To mitigate the fallout of cyber threats that arise through third-party vendors, the Digital Operational Resilience Act (DORA) is a pivotal regulation that aims to enhance information and communication technology (ICT) risk management and cybersecurity reporting through stringent oversight of third-party vendors.

As new regulations aim at consumer and investor protections, the increased scrutiny of risk management, incident response, and business continuity planning is now a Board-level issue, and cyber event reporting and risk mitigation are crucial concerns for boards of directors across industries. How you plan to communicate risks during incident response is integral to compliant decision-making and escalation processes for CSIN reporting.