What DORA Requires of Financial Firms’ Cloud Security
Summary
An overview of DORA’s ICT-risk requirements for financial organizations, including cloud risk assessments, security provisions in provider contracts, ongoing monitoring, and potential CNAPP support.
Key points
- DORA establishes an ICT risk-management and incident-response framework for financial entities and ICT providers in the EU and beyond.
- The regulation calls for regular risk assessments and prompt reporting of major ICT incidents to authorities.
- Before adopting cloud services, financial firms should assess security controls, encryption, access management, and incident-handling policies.
- Contracts with critical cloud providers should address access controls, encryption, business continuity, exit strategies, and security audits.
- Firms are expected to monitor cloud services for appropriate security measures throughout the business relationship.
- The article describes CNAPP features, including cloud-environment visibility, software supply-chain risk management, and recurring risk assessments, as potential compliance support.
Article Details
- Topic
- DORA requirements for ICT risk management and cloud security in the financial sector