Risk Management under the DORA Regulation
The financial sector is quite heavily regulated, and involves a lot of confidential data. You’d therefore expect that the sector fares better at data security than your average organisation. What do the statistics say? The public data set on the ICO (Information Commissioner’s Office) website shows that data security isn’t necessarily better for financial organisations. Although the total number of data breaches – or rather, in those reported – decreased by 24% between 2019 and 2022 in the finance sector, the number of incidents increased by 99%. 2019(Q2–Q4) 2020(Q2–Q4) 2021(Q2–Q4) 2022(Q2–Q4) Data breaches 855 752 (-12%) 630 (-16%) 648
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