Recent studies reveal that nearly half of financial institutions in the UK and the European Union are unlikely to meet the compliance deadline for the Digital Operational Resilience Act (DORA), despite investing millions of euros in cybersecurity enhancements. Investment Figures Key Challenges Hindering Compliance: Consequences of Non-Compliance Regulatory Landscape The European regulatory environment remains highly complex, with overlapping standards and frameworks. Non-compliance with DORA could result in severe financial and reputational repercussions for financial institutions. Future Outlook To address compliance challenges, financial institutions are urged to: Conclusion DORA compliance presents…
Read MoreFinancial Firms Struggle to Meet European DORA Compliance Requirements
