Introduction
Financial institutions are facing a new reality: cyber-resilience has passed from being a best practice, to an operational necessity, to a prescriptive regulatory requirement.
Crisis management or Tabletop exercises, for a long time relatively rare in the context of cybersecurity, have become required as a series of regulations has introduced this requirement to FSI organizations in several regions, including DORA (Digital Operational Resilience Act) in the EU; CPS230 / CORIE (Cyber Operational Resilience Intelligence-led Exercises) in Australia; MAS TRM (Monetary Authority of Singapore Technology Risk Management guidelines); FCA/PRA Operational Resilience in the UK; the FFIEC IT Handbook in the US, and the SAMA Cybersecurity Framework in Saudi Arabia.
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