F E A T U R E
F E A T U R E
As tax operations increasingly rely on diverse technologies for data storage , compliance and real-time reporting , security remains vital to safeguarding sensitive financial information , maintaining regulatory compliance and protecting against cyberthreats . With 2024 witnessing a dramatic increase in cyber-breaches , keeping security tight will remain a hot topic in 2025 .
With the introduction of the Digital Operational Resilience Act ( DORA ) in the
EU , financial institutions , including tax service providers , are now required to ensure robust cybersecurity measures . While not all service providers are required to be DORA-compliant , many are subject to additional scrutiny as they supply DORA-regulated entities . In addition , DORA requires financial institutions to share information about cyberthreats and vulnerabilities to improve collective security .
In terms of its relevance to UK companies , the situation is analogous to other pieces of EU legislation , such as GDPR . According to guidance from PwC , DORA applies to ‘ more than 22,000 financial entities and ICT service providers operating within the EU , as well as the ICT infrastructure supporting them from outside the EU .’
DORA came into force in January this year and aims to enhance the digital resilience of financial institutions and ICT third-party service providers , focusing on their ability to withstand cyberattacks and the potential disruption they bring , www . intelligentfin . tech
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