The Digital Operational Resilience Act (DORA) is a European Union regulation that requires financial institutions to implement comprehensive information and communication technology (ICT) risk-management frameworks by January 17, 2025. To comply with DORA, organizations must establish robust cyber resilience strategies to protect against advanced cyberattacks and ensure business continuity.

What is Cyber Resilience?

Cyber resilience is a key component of operational resilience and involves implementing strategies to protect data and ensure business continuity in the face of ransomware or other cyberattacks. It encompasses data protection, disaster recovery, and cybersecurity measures.

The Importance of a Strong Cyber-Resilience Strategy

Organizations face significant financial and reputational risks from data breaches. According to the IBM Cost of Data Breach Report 2023, the global average cost of a breach was $4.45 million, with the average cost in the US reaching $9.48 million. A robust cyber-resilience strategy that combines cybersecurity, data protection, and disaster recovery methods helps organizations protect against and rapidly recover from disruptive cyber incidents.

Traditional recovery plans, such as standard disaster recovery solutions, may not be adequate to combat advanced and malicious cyberattacks. A cyber-resilient solution requires new thinking and collaboration between disaster recovery and security teams. It goes beyond standard techniques like backup and replication by creating an isolated recovery environment that can quickly take over without replicating the ransomware.

Benefits of an Isolated Recovery Environment

An isolated recovery environment, in conjunction with disaster recovery, offers several advantages:

• Customized recovery processes for specific applications
• Enhanced control and flexibility for testing and validation
• Improved security and compliance capabilities

IBM Cyber-Resiliency Best Practices

IBM infrastructure solutions enable organizations to develop and manage cyber resilience in both on-premises and cloud environments. The best practices include:

• Air-gapped protection as a fail-safe against malware
• Immutable storage to prevent backup corruption and deletion
• Data scanning and cleansing tools for test and validation
• Automation and orchestration for response and recovery
• Separation of duties to ensure accountability

IBM Cloud provides the base infrastructure needed to build a compliant cyber-resilient solution that aligns with DORA requirements. With IBM Cloud Cyber Recovery, organizations can achieve trusted solutions that meet compliance needs and ensure business continuity.

Learn more:

To learn more about implementing a customized, flexible, and resilient recovery solution using IBM Cloud, including an isolated recovery environment, visit IBM Cloud Cyber Recovery.

Summary

The Digital Operational Resilience Act (DORA) requires financial institutions in the EU to implement comprehensive ICT risk-management frameworks by 2025. A key aspect of DORA compliance is the implementation of cyber resilience strategies, which combine data protection, disaster recovery, and cybersecurity measures. These strategies aim to protect organizations from advanced cyberattacks and ensure business continuity. IBM provides solutions and best practices to help organizations develop and manage cyber resilience, ensuring compliance with DORA requirements and protecting against malicious threats.

FAQs

1. What is DORA?

DORA stands for the Digital Operational Resilience Act, which is a European Union regulation that requires financial institutions to establish comprehensive ICT risk-management frameworks by January 17, 2025.

2. What is cyber resilience?

Cyber resilience is a component of operational resilience that focuses on ensuring data protection and business continuity in the face of cyberattacks or other disruptive incidents. It involves implementing strategies and measures to protect against and recover from advanced cyber threats.

3. Why is cyber resilience important for DORA compliance?

Cyber resilience is crucial for DORA compliance because it helps financial institutions protect sensitive data, ensure uninterrupted services, and meet regulatory requirements. It enables organizations to respond effectively to cyber threats and rapidly recover from incidents, minimizing their impact.

4. What are the benefits of an isolated recovery environment?

An isolated recovery environment offers customization, control, and flexibility for testing and validation of recovery procedures. It enhances security and compliance capabilities, allowing organizations to meet regulatory requirements effectively. Additionally, it provides an additional layer of protection against ransomware and other cyber threats.