The European Union Directive on Network and Information Security 2 (NIS2) and the Digital Operational Resilience Act (DORA) form an interconnected framework for strengthening cyber security in the European Union. These legislative initiatives work hand in hand to provide a harmonized approach to cyber security with a particular focus on the financial sector.
Main objectives of the DORA and NIS2 initiatives
The goal of the DORA program, focused on the financial sector, is to increase the resilience and cyber security of the digital infrastructure of financial institutions. In contrast, NIS2 sets minimum cybersecurity requirements for various industries, including energy, transportation, and healthcare.
Harmonization of rules and obligations
DORA and NIS2 complement each other to ensure a coordinated and comprehensive approach to cyber security. NIS2 not only extends its scope to medium and large entities, but also sets minimum rules for the cyber security framework. DORA then establishes specific rules for resilience in the financial sector.
Protection of critical entities and sectors
Together, the two directives cover sectors that are considered key to the economy and stability of the European Union. This connection provides insight into the joint efforts to strengthen security not only in the financial sector but also in critical infrastructure sectors.
Responding to current cyber threats
With recent cyber threats and incidents, including pandemics and geopolitical conflicts, it is clear that cyber security is becoming a key element in protecting modern society. DORA and NIS2 represent a response to current challenges and strengthen the protection of critical assets in the digital space.
Other regulations and cooperative efforts
In addition to the DORA and NIS2 regulations, collaborative efforts are underway to create a robust cybersecurity ecosystem. Integrating these guidelines with industry regulations ensures a comprehensive and unified approach to addressing the evolving cyber environment.
Cite the numbers: Enhancing cyber security
As reported in recent articles, by October 2024, NIS2 cybersecurity standards implemented by EU member states are expected to affect more than 100,000 organizations. The expanded scope of the NIS2 standard, which includes industries such as food processing, postal services and manufacturing, highlights the urgency of taking robust cyber security measures.
In addition, the alignment of NIS2 with sector-specific legislation, including DORA for the financial sector, demonstrates a commitment to legal clarity and coherence. The creation of mechanisms such as the European Network of Contact Organizations for Cybercrises (EU-CyCLONE) underlines the commitment to manage large-scale cyber security incidents and crises in a coordinated manner.
Looking ahead: Enhancing cyber resilience
As NIS2 enters into force and member states work to incorporate its provisions, the cooperation between NIS2 and DORA is creating the conditions for a more resilient and secure digital environment. The focus on harmonisation, minimum rules and industry regulations reflects a comprehensive strategy to address the various challenges posed by cyber threats.
In conclusion, the interconnected nature of NIS2 and DORA represents a proactive approach to cyber security that not only addresses the specific needs of the financial sector, but also contributes to the overall cyber resilience of the European Union. These regulations, along with collaborative initiatives, create the foundation for a secure and resilient digital future.
