DORA
EU regulation for digital operational resilience in financial sector
ISO 27032
International guidelines for Internet cybersecurity collaboration.
Quick Verdict
DORA mandates ICT resilience for EU finance firms via testing and reporting, while ISO 27032 offers voluntary Internet security guidelines for all organizations. Finance adopts DORA for compliance; others use 27032 to enhance global cyberspace collaboration and risk management.
DORA
Regulation (EU) 2022/2554 - Digital Operational Resilience Act
Key Features
- Mandates comprehensive ICT risk management frameworks
- Requires 4-hour initial major incident reporting
- Enforces risk-based resilience testing and TLPT
- Supervises critical third-party ICT providers directly
- Harmonizes resilience rules across EU finance
ISO 27032
ISO/IEC 27032:2023 Cybersecurity – Guidelines for Internet Security
Key Features
- Multi-stakeholder collaboration for cyberspace security
- Guidelines for Internet-specific risk assessment
- Annex A mapping to ISO 27002 controls
- Emphasis on incident detection and response
- Integration with ISO 27001 ISMS frameworks
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
DORA Details
What It Is
DORA, formally Regulation (EU) 2022/2554, is an EU-wide regulation mandating digital operational resilience for the financial sector against ICT disruptions like cyberattacks and third-party failures. It applies to 20 financial entity types and critical ICT third-party providers (CTPPs), using a risk-based, proportional approach to harmonize rules across 27 member states.
Key Components
Core pillars include ICT risk management frameworks with vulnerability assessments and continuity plans; incident reporting requiring 4-hour initial notifications for major events; resilience testing via annual scans and triennial threat-led penetration testing (TLPT); and third-party oversight with due diligence, monitoring, and ESAs supervision of CTPPs. No formal certification, but compliance enforced via penalties up to 2% global turnover.
Why Organizations Use It
Essential for legal compliance ahead of January 2025 deadline, DORA mitigates systemic risks amid 74% ransomware prevalence, enhances cyber defenses, fosters stakeholder trust, and drives €10-15B in resilience investments while addressing third-party vulnerabilities exposed by events like CrowdStrike outage.
Implementation Overview
Involves gap analyses, framework development, tool deployment for reporting/testing, and vendor contract updates. Targets ~22,000 EU entities proportionally by size/risk; requires ongoing authority reporting and remediation, with Batch 1/2 technical standards guiding rollout.
ISO 27032 Details
What It Is
ISO/IEC 27032:2023, titled Cybersecurity – Guidelines for Internet Security, is an international guidance standard (not certifiable) providing high-level recommendations for managing Internet security risks in cyberspace. It adopts a risk-based, collaborative approach, linking information security, network security, Internet security, and critical infrastructure protection.
Key Components
- Multi-stakeholder roles and collaboration frameworks.
- Annex A mapping Internet threats to ISO/IEC 27002 controls (93 total).
- Core principles: risk assessment, incident management, awareness, technical controls.
- Built on PDCA cycle; non-certifiable, integrates with ISO 27001 ISMS.
Why Organizations Use It
- Reduces ecosystem risks, improves resilience and incident response.
- Aligns with regulations like NIS2, GDPR; enhances trust and market access.
- Strategic benefits: efficiency, competitive edge, insurance savings.
Implementation Overview
- Phased: gap analysis, risk assessment, controls deployment, monitoring.
- Applies to all sizes, especially online/networked ops; no certification, but audits recommended. (178 words)
Key Differences
| Aspect | DORA | ISO 27032 |
|---|---|---|
| Scope | Digital operational resilience in finance | Guidelines for Internet/cyberspace security |
| Industry | EU financial entities and CTPPs | All organizations with online presence |
| Nature | Mandatory EU regulation | Voluntary international guidelines |
| Testing | Annual basic, triennial TLPT | Risk-based assessments, no mandates |
| Penalties | Up to 2% global turnover fines | No legal penalties |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about DORA and ISO 27032
DORA FAQ
ISO 27032 FAQ
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