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A nice summary on the EU Digital Operational Resilience Act (DORA), it’s effects on Financial Institutions in and outside of the EU, and their obligations to manage ICT risk.
When one considers DORA, ICT risk management and one puts it through the lens of the recent Crowdstrike incident. If the incident took place in 2025, there are many questions raised that could place FIs under regulatory scrutiny. How is ICT risk transferred between the FI and the ICT third party supplier, that includes an MSP (Crowdstrike has an EU legal entity). For example would the Crowdstrike Contractual liabilities discussed in the media be enough to mitigate risk?
How will the local banking regulators respond?
One only has to read the technical standards to conclude many smaller FIs and third party ICT suppliers will struggle with compliance.
@Thaddeus Dziekanowski
Veritas GRC European Commission
#dora #cybersecurity
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