From the course: DORA Requirements and AI Security: From Compliance to Threat Intelligence
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Incident reporting
From the course: DORA Requirements and AI Security: From Compliance to Threat Intelligence
Incident reporting
- [Instructor] Incident reporting in the DORA directive is about establishing common approaches to managing incidents, reporting to higher authority, and sharing the lessons learned across the financial sector. The European Systemic Cyber Incident Coordination Framework was established on the 17th of January, 2025 to satisfy the requirements laid out in DORA. Financial entities are required to have a sound-documented incident response process. Some key aspects of the process include having early warning indicators established as part of preparation, and ensuring root cause analysis is carried out as part of response. Incidents should be classified based on the following criteria. The size of the incident, measured as the number of clients, counterparts, and transactions affected, and sometimes referred to as its blast radius, the duration and geographical spread of the incident, the extent of data losses, the criticality of services affected, and the economic impact of the incident on…
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