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However, it doesnt stop there.

What are NIS2 and DORA?

NIS2 aims to provide comprehensive EU-wide legislation oncybersecurity.

It expands the scope of the NIS Directive and introduces stricter security requirements for 18 sectors of business.

DORA is a sector-specific directive for financial institutions, targeting their approach to operational risk.

DORA has two clear objectives.

Firstly, to tighten IT risk management across the financial services sector.

Secondly, to harmonize current IT risk management regulations already in existence across EU member states.

This should include identifying critical assets, assessing potential threats, and evaluating the impact of various risk scenarios.

A unified risk assessment approach helps in identifying common vulnerabilities and developing a streamlined mitigation strategy.

Education and training:Due to limited resources, organizations often find themselves particularly vulnerable to cyber threats.

With this regular training, organizations can foster the necessary culture for compliance and security awareness.

This includes streamlining communication channels effectively, transparent communications with consumers and ensuring timely reporting to relevant authorities.

It is the responsibility of senior leadership teams to embed security and privacy across data-related initiatives from the start.

In creating a clear governance structure, organizations can maintain consistency avoiding duplication of efforts and ensuring accountability.

Cyber resilience testing:There is no compliance without regular testing of systems and processes.

Organizations must align their testing procedures with the frameworks requirements to ensure a more resilient security posture.

This includes data-led solutions for risk assessment, incident management and resilience testing.

To ensure more accurate reporting, automated solutions must be considered to help streamline processes and reduce manual efforts.

Providing this information will go a long way in empowering wider cybersecurity initiatives.

A robust security response extends far beyond data protection, it encompasses regulators,employees, consumers and more.

Therefore, ongoing compliance can mean the difference between a necessary evil and a trusted partner.

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