Original Post: A stepping stone towards holistic application risk and compliance management of the Digital Operational Resiliency Act (DORA)
In today’s digital-centric world, the European Union’s Digital Operational Resilience Act (DORA) establishes a framework to manage Information and Communication Technology (ICT) risks and ensure business continuity for financial institutions and critical service providers. Given the heavy reliance on digital technologies and applications, DORA emphasizes strong application security practices to mitigate vulnerabilities exploited by cybercriminals.
DORA represents a paradigm shift towards proactive operational resilience, with a focus on application security throughout an application’s lifecycle. Modern applications are prime targets for cyber attacks due to their complexity, rapid development cycles, the use of AI coding assistants, and constantly evolving threats. To counter these risks, DORA outlines five pillars:
- ICT risk management: Establish and maintain robust ICT risk management frameworks.
- Incident reporting: Report significant cyber and ICT-related incidents.
- Digital operational resilience testing: Regularly test ICT systems for resilience.
- Third-party risk management: Manage risks posed by third-party service providers.
- Information sharing: Share cyber threat information to enhance sector-wide security.
DORA mandates regular application security scanning, focuses on third-party applications, and emphasizes risk management for vulnerabilities. Snyk, a developer-first security platform, supports DORA compliance by automating vulnerability scanning, facilitating incident reporting, integrating security testing tools, managing software supply chain risks, and continuously monitoring dependencies.
Beyond compliance, fostering a culture of security within the organization is crucial. Snyk offers training and resources to promote secure coding, supports a Secure Software Development Lifecycle (SDLC), and encourages a DevSecOps approach, integrating security throughout the development process.
In conclusion, DORA aims to enhance digital operational resilience by recognizing the critical role of application security. Snyk helps organizations achieve DORA compliance, build a culture of security, and prepare for broader regulatory requirements such as ISO 27001, SOC2, and PCI-DSS, ensuring business continuity and protection of valuable assets.
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