AJAY GOUD BALNE’s Post

Enhancing #Cybersecurity in #Finance: Insights from the Swiss Financial Market Supervisory Authority (#FINMA) FINMA has uncovered significant #gaps in how financial institutions perceive and manage cyber risks, highlighting critical shortcomings in regulatory compliance. In response to escalating cybersecurity threats, FINMA has issued two new #Guidances on operational risks with a strong emphasis on cyber resilience. Explore our latest Spotlight for a comprehensive overview of legal obligations, FINMA's key insights, and practical recommendations to strengthen cybersecurity practices. Authored by our experts Martin Peyer, Claudia Keller, Orlando Battaglia and Matthias Langenegger. Download Spotlight In English (PDF): https://lnkd.in/dHbDPDw4 In German (PDF): https://lnkd.in/dZsxdhFy   #Cybersecurity #RiskManagement #Compliance Eidgenössische Finanzmarktaufsicht FINMA

What impact is #DORA having on your financial institution? I've outlined many of the challenges and strategic implications here: https://lnkd.in/eNtGrkW8 #Cybersecurity #GlobalFinance #OperationalResilience

On 7 June 2024, the Swiss Financial Market Supervisory Authority FINMA released its Cyber Risk-Guidance 03/2024 summarising key findings from its cyber risk supervisory activities and clarifying the reporting obligations for cyber attacks. The Cyber Risk-Guidance expresses FINMA's interpretation of applicable law and should therefore be complied with by supervised institutions. Our latest briefing: ◾ Analyses the implications of the Cyber Risk-Guidance for supervised institutions ◾ Provides practical recommendations on how to comply with the regulatory requirements and manage cyber risks effectively Authors: Dr. Christian Kunz, Ferdinand Rombach, Dr. Katharina Schreiber Read more here: https://lnkd.in/exC5rNAN #baerkarrer #cyberrisks #cyberattack #cybersecurity #dataprotection #FINMA

🚀 𝗗𝗢𝗥𝗔: 𝗔 𝗡𝗲𝘄 𝗘𝗿𝗮 𝗼𝗳 𝗖𝘆𝗯𝗲𝗿 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 𝗶𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 🚀 Jason Harrell, CISM of The Depository Trust & Clearing Corporation (DTCC) delves into how the EU's 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 𝗔𝗰𝘁 (𝗗𝗢𝗥𝗔) is setting stringent cyber resilience standards. Discover how this regulation will standardize cybersecurity across the EU and its potential to influence global financial markets. 𝗗𝗢𝗥𝗔 challenges institutions to enhance third-party risk management and align existing cybersecurity measures with new comprehensive standards. Learn about the strategic implications of DORA compliance and how it paves the way for innovation in managing cyber threats. 🔗 Explore the impact of DORA on your financial institution: bit.ly/3AKfvHr #DORA #Cybersecurity #FinancialRegulation #Compliance #GlobalFinance #OperationalResilience

🚨 Attention Financial Sector! 🏦 📢 Introducing the Digital Operational Resilience Act (DORA)! 🔍 What is DORA? - A regulation focused on ensuring the resilience of digital systems against cyber threats 💻🔐 - Applies specifically to the financial sector 🏦 🔗 Stay ahead of the curve and make sure your systems are secure! #CyberSecurity #DORA #DigitalResilienceAct #Finance #TechNews #Regulations #StaySecure

🚨Attention Financial Institutions💥🌟 DORA compliance is mandatory - are you prepared? 🏦💸💳🧑💻📲⤵️ (banks, insurers, payment processors, and digital asset firms.) Our DORA Compliance Services can help you navigate this critical regulation, from managing third-party risks to building long-term cybersecurity resilience. ️🔐 Don't get left behind! 👉 Learn more: https://iarminfo.com/dora/ #DORACompliance #Cybersecurity #ICTRisk #FinancialServices #RegulatoryCompliance #OperationalResilience #RiskManagement #DigitalResilience #ICTRisk #iarminfo #DORA

In the evolving landscape of finance, cybersecurity in transfer pricing is more crucial than ever. Protecting sensitive financial data against cyber threats ensures the integrity of cross-border transactions and compliance with global tax regulations. As the digital world expands, so does the need for robust security measures in these critical financial operations. Let's prioritize cybersecurity to safeguard our financial practices against the ever-increasing cyber threats. Our special program is designed for those passionate about cybersecurity, offering unique opportunities to delve into and protect the various sectors digital frontier -->https://lnkd.in/dhF6x8sy #Cybersecurity #TransferPricing #FinanceSecurity #Poland

Germany’s BaFin has released guidance for banks ahead of the EU’s Digital Operational Resilience Framework (DORA), effective January 17, 2025. This is a necessity for senior staff to understand ICT risk and oversee technology functions, aiming to help financial institutions’ defense against cyber threats. More details can be found here: https://buff.ly/4eyU8rb #DORA #Cyber #Risk #Technology

The correlation of cyber risk with overall risk (financial and compliance) is surprising and fascinating. Integrating cyber risk into both customer and supplier onboarding should not be overlooked. Cyber risk is now integral to overall risk prevention.

💡 Implementing the Digital Operational Resilience Act (DORA) in financial institutions presents significant challenges, particularly given the sector's complex IT infrastructures. 👩💻 DORA's focus on enhancing the cyber resilience of financial entities demands a thorough overhaul, or at least a decent update, of existing systems to ensure compliance. In our new series, our junior consultant Camille Crouzet gives her advice on what financial institutions should do to implement DORA. #DORA #digitalresilience #compliance #complianceofficer #cybersecurity #cyberresilience #regtech #digitaltransformation