Call us now:
The German Finance regulator BaFin yesterday published its ‘Risks in the Focus of Bafin 2024’ this week. Highlighting the main 7 risks facing German financial markets. Risks that include the risk from cyber attack (https://lnkd.in/eByTujwc) and concentration risks from outsourced services (https://lnkd.in/e2FA36zT). Both risks that have been demonstrated to impact not just financial markets recently. The report identifies the increase in new malware variants and the danger of ransomware attacks on German Financial Institutions, their service providers and especially large multi-client service providers.
DORA looks high on BaFin’s list of priorities in 2024, focusing in both on ICT providers to German Financial Institutions and on Financial Institutions themselves and how they manage cybersecurity risk. DORA is a comprehensive regulation that requires covered entities oversight, assure and attest internal and external cybersecurity risk management of ICT. A focus now of BaFin.
Ted Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberregulation #dora #cybergovernance
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