Don’t just check the box – enjoy cyber resilience with TLPT and ensure your company is prepared for DORA compliance.
The hot topic in the financial sector right now is DORA compliance, and for good reason.
The Digital Operational Resilience Act (DORA) is a set of rules from the European Union that must be implemented by 17 January 2025.
The goal of these regulations is to make sure financial companies can handle cyberattacks and other technology problems.
One of the most important things DORA asks for is Threat-Led Penetration Testing (TLPT).
If this sounds slightly like, “What are you on about, Mr IT guy?” don’t stress; that’s what we’re here to discuss.
Understanding the DORA Regulations
The idea behind DORA is to ensure financial businesses (banks, insurance companies, investment firms, etc.) can withstand disruptions to their information and communication technology (ICT) systems.
Essentially, this means that even if there’s a cyberattack or a major IT failure, these companies can still operate and keep their customers’ data safe.
So, what do the DORA cybersecurity requirements entail?
ICT Risk Management
You need to identify, assess, and mitigate your ICT risks. This means figuring out what could go wrong with your technology and how likely it is to happen.
Then, controls should be put in place to lessen that risk and regularly checked to ensure their effectiveness.
Incident Reporting
Reporting major ICT incidents to the relevant authorities.
This means knowing:
- What to do if something does go wrong,
- Who to inform about the incident, and
- How to get back to normal as quickly as possible.
Having a clear action plan helps create transparency, trust, and order during stressful situations.
Operational Resilience Testing
Besides the fact that DORA requires you to test your systems at least annually, regularly testing your systems is a good idea.
It enables you to keep your security systems up to date and have relevant incident measures in place.
Think about it like this: there was a time, not too long ago, when child safety in a car was only your mum putting her arm out. Now, kids under 12 must sit in the back seat and a booster seat until they are about 1.5 m tall.
Things in the cyber realm develop MUCH quicker.
Risk Protocols
Knowing there are weaknesses in your system and what to do is only half the story.
You must also take preventative measures to fix them. This could include employee training, two-system verification, software updates, and secure backup systems.
Third-Party Risk Management
If you rely on other companies for ICT services (like cloud providers), you need to manage the risks that come with that.
This means you must check that they comply with the required security regulations.
If something goes wrong on their side that affects your data, you can still suffer the consequences.
More Than Just a Checkbox
DORA compliance is about more than avoiding fines. It’s about protecting your business, your customers, and your reputation.
TLPT is a major component of this process!
By investing in TLPT, you’re not just checking a box; you’re making a smart choice for your business’s future.
In short, DORA compliance is a must for all financial institutions.
How do you know if you need to comply?
Basically, if your business deals with people’s money or financial data, DORA likely applies to you.
If you’re unsure, you can always chat with us at 7ASecurity.
What Exactly is TLPT?
Think of TLPT as a kind of fire drill for your computer systems.
Instead of just checking for weaknesses in your defences, we actively try to break in, just like a real attacker would.
It’s called “threat-led” because we tailor our tests to your organisation’s specific threats.
We use the latest information about cyber threats related to the financial industry to make our attacks as realistic as possible.
This helps us find the hidden gaps in your security that a normal check might miss.
It’s like testing your door locks by trying to pick them instead of just ensuring they exist.
Why is TLPT Essential for DORA Compliance?
DORA compliance requires financial institutions to take a proactive approach to cybersecurity.
It’s not enough to just react to attacks after they happen. You need to be prepared and have strong defences in place.
That’s where TLPT comes in.
By identifying and fixing vulnerabilities before they can be exploited, TLPT helps you:
- Reduce the risk of cyberattacks. We help you find and fix weak spots before they become a problem.
- Protect your reputation. A cyberattack can damage your reputation and make customers lose trust. TLPT helps you avoid this.
- Meet DORA requirements. Regular TLPT is a key requirement of DORA, and we can help you meet those requirements.
- Improve your overall security. TLPT gives you a clear picture of your security posture and helps you improve it.
How Does TLPT Work?
Our 7ASecurity TLPT services follow a well-developed plan.
- We gather information about the threats you face. This means examining the types of attackers who might target you and the methods they use.
- We carefully plan the tests. We work with you to decide what systems to test and what kinds of attacks to simulate.
- We look for weaknesses in your systems. This might involve breaking into your network, finding flaws in your website code, or sending fake links to your employees.
- We try to exploit those weaknesses. This helps us understand how a real attacker could get in and what they could do once they’re inside.
- We give you a detailed report. This report explains what we found, how serious the risks are, and what you can do to fix them.
Your Financial Cybersecurity Testing Solution
Although cybersecurity might look like a hefty price tag, it is an investment, not a cost.
And you can’t just hire anyone to break to test your company’s systems.
We can help you avoid the costs of a cyberattack, such as lost data, fines, and damage to your reputation.
We’ve helped businesses of all sizes improve their security, from small companies to large corporations.
Our team has the skills and experience to make sure your TLPT is done right.
Want to learn more about how we can help you achieve DORA compliance and strengthen your cybersecurity?
Book your free consultation today.
Cybersecurity is what we do best!
