DORA
EU regulation for digital operational resilience in financial sector
ISO 37001
International standard for anti-bribery management systems
Quick Verdict
DORA mandates ICT resilience for EU financial entities against cyber threats, while ISO 37001 offers voluntary anti-bribery certification globally. Financial firms adopt DORA for regulatory compliance; all organizations use ISO 37001 to mitigate bribery risks and build trust.
DORA
Regulation (EU) 2022/2554 Digital Operational Resilience Act
Key Features
- 1. Mandates comprehensive ICT risk management frameworks
- 2. Enforces 4-hour incident reporting for major disruptions
- 3. Requires triennial threat-led penetration testing (TLPT)
- 4. Oversees critical third-party ICT providers (CTPPs)
- 5. Harmonizes resilience across 20 financial entity types
ISO 37001
ISO 37001 Anti-Bribery Management Systems
Key Features
- Risk-based bribery risk assessments and due diligence
- Third-party management and controls
- Leadership commitment and anti-bribery policy
- PDCA cycle for continual improvement
- Certifiable with external audits
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
DORA Details
What It Is
Digital Operational Resilience Act (DORA), Regulation (EU) 2022/2554, is an EU regulation enhancing financial sector resilience against ICT disruptions like cyberattacks and third-party failures. Applicable from January 17, 2025, it covers 20 entity types and CTPPs, using a risk-based, proportional approach for proactive management.
Key Components
- **ICT risk frameworksIdentification, mitigation, annual reviews by management.
- **Incident reporting4-hour alerts, 72-hour updates for major events.
- **Resilience testingAnnual scans, triennial TLPT.
- **Third-party oversightDue diligence, ESAs supervision of CTPPs. Built on harmonization, integrates info sharing.
Why Organizations Use It
Mandated for compliance, avoids 2% turnover fines. Counters threats (74% ransomware incidents), boosts recovery (RTO <4 hours), builds trust. Drives cybersecurity investments, harmonizes EU practices for competitive resilience.
Implementation Overview
Gap analyses per RTS/ITS, policy development, testing/vendor programs. Proportional by size/risk; EU financials. ESAs reporting/audits required; leverages existing EBA guidelines.
ISO 37001 Details
What It Is
ISO 37001 is the international certifiable standard for Anti-Bribery Management Systems (ABMS). It provides requirements and guidance to prevent, detect, and respond to bribery risks. The risk-based approach follows the ISO Harmonized Structure (HS) and PDCA cycle, applicable to all organization sizes, sectors, and geographies, focusing solely on bribery (direct/indirect, public/private).
Key Components
- Core clauses 4-10: context, leadership, planning, support, operation, evaluation, improvement.
- 8 key controls: policy, compliance function, risk assessment, due diligence, training, financial/non-financial controls, reporting, audits.
- Built on proportionality and evidence-based implementation; optional third-party certification with 3-year cycles.
Why Organizations Use It
- Mitigates legal risks (e.g., FCPA, UK Bribery Act) via evidentiary "reasonable steps".
- Drives efficiencies (15% compliance cost reduction), reputational trust, ESG alignment.
- Enables market access, stakeholder confidence in high-risk sectors like extractives, construction.
Implementation Overview
- Phased: gap analysis, risk assessment, controls design, training, audits, certification.
- Scalable for SMEs to multinationals; integrates with ISO 9001/27001. Typical 6-12 months to certification.
Key Differences
| Aspect | DORA | ISO 37001 |
|---|---|---|
| Scope | ICT resilience in finance | Anti-bribery management systems |
| Industry | EU financial sector only | All industries worldwide |
| Nature | Mandatory EU regulation | Voluntary certification standard |
| Testing | Annual basic, triennial TLPT | Internal audits, certification audits |
| Penalties | Up to 2% global turnover fines | No legal penalties, certification loss |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about DORA and ISO 37001
DORA FAQ
ISO 37001 FAQ
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