COR Concepts’ Post

I am seeing lots of hype around a relatively new, emerging term. In many respects this sounds similar to Information Governance, with a strong focus on Trustworthiness. We are about to explore this in great depth, so follow us to keep abreast of the latest developments. What Digital Trust Entails: Digital Trust involves ensuring that organisations can confidently operate in the digital realm. Key aspects include: 1. Information Security and Privacy: Protecting sensitive data and ensuring privacy. 2. Business Continuity: Ensuring resilience and continuity in the face of disruptions. 3. Governance, Risk, and Compliance: Effective management of risks and adherence to regulatory requirements. 3. Digital Transformation: Guiding organizations through digital transformations with trust and security. 4. Artificial Intelligence: Harnessing artificial intelligence responsibly and ethically. Our partnership with PECB is especially exciting as this is their new strategic direction, and we will see new training courses developed along these lines in the near future. As we build our competency in this field, we will offer more and more of these courses. #informationgovernance #digitaltrust #Informationsecurity #Privacy

Day 35 of #CybertechDave100DaysOfCyberChallenge 🔒 Data Management: Balancing Privacy & Secrecy 🔍 In the digital realm, protecting sensitive information is not just a best practice—it's a mandate. Here's how organizations navigate the intricate dance of privacy and secrecy: 🛡️ Privacy: Personal Data Shielded ▪ Focus: Upholding individual rights over personal data. ▪Regulations**: #GDPR, #CCPA, #HIPAA steer the data protection course. ▪Tech Tactics: Encryption, access controls, and data reduction methods secure personal info. ▪GRC Sync: Adapt policies and processes to meet regulatory demands, assess privacy impacts, and respect data subject requests. 🤐 Secrecy: Gatekeeping Confidential Info ▪Focus: Keeping trade secrets and intellectual property under wraps. ▪Regulations: Laws pivot on the data's nature—trade secrets to sector-specific rules. ▪Tech Tools: Access limits, encryption, Data Loss Prevention , and monitoring are key to confidentiality. ▪GRC Strategy: Classify data sensitivity, enforce security controls, and prepare for breach response. 🌐 In the global data economy, excellence in privacy and secrecy isn't just compliance—it's a cornerstone of trust and credibility. 🔹 Please note that I am not a professional in this field, and the information provided is based on my own research and interest in the topic. 🔥 "The only way to predict your future is by creating it." #DataPrivacy #DataSecrecy #CyberSecurity #InformationGovernance #RiskManagement #Compliance #StudyGRC #TeamSC

3 Things... “Obey the laws, or they will be obeyed in a way you won't like." - Benjamin Franklin On this day: June 5, 1930 - Bailey Diffie, a pioneer of public-key cryptography was born; June 5, 1939 - Politician and Canada's youngest Prime Minster Joe Clark was born; June 5, 2008 - most notably, my oldest son, whom I affectionately call Shah v2.0, was born. Happy birthday Shah! Cybersecurity compliance is foundational, yet strategic cyber governance sets the stage for sustainable security practices that drive business value. The integration of governance with dynamic compliance frameworks is no small feat . Three things to consider: - Aligning cybersecurity policies with international standards: As highlighted in KPMG's 2024 Cybersecurity Considerations report, the global regulatory landscape is increasingly complex, with 83% of organizations reporting difficulty in meeting various regulatory requirements. Embedding resilience across operations helps manage these diverse compliance needs effectively. - Engaging all stakeholders in cybersecurity initiatives: Meeting customer expectations and improving trust involves close collaboration between CISOs and various stakeholders. According to the report, 75% of CISOs are now actively working with ESG teams to ensure operational resilience and readiness in the event of cyber incidents. Embedding cybersecurity and privacy as core principles can enhance trust and operational continuity, with 82% of consumers preferring brands whose values align with their own. - Regularly revising governance frameworks to incorporate technological advances: The rapid emergence of AI and other technologies introduces new risks and opportunities. Organizations must balance innovation with robust governance to harness AI responsibly. The report states that 69% of CEOs have embedded ESG, including cybersecurity, into their business strategies to create value, anticipating significant returns over the next 3 to 5 years. Moreover, consider integrating cybersecurity into the ESG agenda to enhance transparency and trust, and leveraging automation to streamline security processes and improve response times. Automation in cybersecurity is becoming crucial, with 70% of organizations adopting automated security measures to manage increasing threats effectively. #CyberGovernance #Compliance #ESG #AI #Automation

Over the past few years, GTG had the opportunity to immerse deeply in the evolving landscape of the new digital laws and cybersecurity regulations and advise on these novel laws. #toptier #techlaw firm #fintech #informationtechnology #DORA #MiCA #AI

Today businesses face a range of challenges that significantly impact their strategic approaches and the sustainability of operations in dynamic markets. Three major ones are:   𝐏𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬  From 2017 to 2022, EU-imposed sanctions on individuals and entities surged from 101 to 1,532, reflecting a 1,417% increase.   𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬  Adoption of AI and cloud computing solutions are in focus recently, with 70% of large companies expecting to onboard cloud solutions by 2027.   𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬  From 2017 to 2023 networks were subject to rising cyberattacks, e.g. 85% of networks were attacked more than once. As a consequence new regulations such as Network Information Security (NIS) Directive 2.0 and the Digital Operational Resilience Act (DORA) come into effect with more stringent and larger numbers of security requirements.    A closer look at cyber attack targets and applicable regulations reveals the fundamental importance of protecting critical infrastructure sectors (CRITIS) required for state and community functionality. These industries, due to their critical functions, have higher impacts on large numbers of people during failures, requiring strong compliance and risk management measures. Data breaches in CRITIS sectors have higher costs compared to other sectors being 28.6% higher, with an average cost of $5.04 Million.    To be compliant with regulations and to successfully overcome audits requires an adequate Audit Framework and project management, where the latter is also a crucial success factor.   Read more in our Whitepaper. #CRITIS #ProgramManagement #NewOrder

Over the past few years, GTG has had the opportunity to immerse deeply in the evolving landscape of the new digital laws and cybersecurity regulations and advise on these novel laws. Here’s a snapshot of them: 🌟 NIS2 Directive: Sets a new baseline for cybersecurity risk management and mandatory reporting for critical sectors. 🌟 Cyber Resilience Act (CRA): Mandates cybersecurity requirements for all products placed on the EU market. 🌟 Digital Operational Resilience Act (DORA): Enhances operational resilience in the financial sector by integrating cybersecurity into core activities. 🌟 Data Act: Ensures fair allocation of data value and mandates seamless customer switching for data processing services. 🌟 Digital Services Act (DSA): Sets new rules for consumer protection in the online environment, ensuring accountability for content moderation. 🌟 Digital Markets Act (DMA): Prevents unfair practices by gatekeeper platforms to ensure a fair, contestable market. 🌟 AI Act: Regulates using and developing Artificial Intelligence within the EU. 🌟 Critical Entities Resilience Directive (CER): Enhances resilience of critical entities providing essential services. 🌟 eIDAS 2: Updates regulations to enhance digital identity verification and secure electronic transactions. 🌟 Cybersecurity Act: Establishes a cybersecurity certification framework to ensure high cybersecurity across the EU. 🌟Cybercrime issues are evolving, posing significant threats. Staying ahead requires continuous vigilance and robust measures. We am passionate about helping organisations navigate these complexities and enhance their cybersecurity posture. Feel free to discuss the latest trends in digital regulations or explore potential collaborations. #Cybersecurity #DataProtection #DigitalRegulations #NIS2 #CRA #DORA #DataAct #DSA #DMA #AIAct #CriticalEntitiesResilience #eIDAS2 #CybersecurityAct #Compliance #RiskManagement⬤

Privacy & Data Governance: The Foundation of Digital Trust 🔒 In a world where data is the new gold, businesses are increasingly under scrutiny to protect the personal information they collect and manage. With stringent regulations like GDPR, CCPA, and more emerging globally, prioritizing privacy and data governance is not just a compliance checkbox—it’s a business imperative. Here’s why it matters: 1️⃣ Enhanced Customer Trust: Consumers are more aware of data privacy than ever before. By implementing strong data governance policies, organizations can build trust and foster loyalty with their customers. 2️⃣ Regulatory Compliance: Staying up-to-date with evolving privacy laws is essential to avoid hefty fines and reputational damage. Platforms must enforce mechanisms for data encryption, secure transfers, and clear consent processes. 3️⃣ Risk Management: Data breaches can be costly, both financially and reputationally. Implementing robust data governance protocols can help minimize risks and ensure quick response times when threats arise. As we look to the future, privacy will become even more central to digital strategy. Is your organization ready to put data governance at the forefront? 📈🔐 #DataPrivacy #DataGovernance #CyberSecurity #DigitalTransformation #GDPR #CCPA #TechLeadership

𝗗𝗮𝘁𝗮 𝗣𝗿𝗶𝘃𝗮𝗰𝘆 𝗮𝗻𝗱 𝗖𝘆𝗯𝗲𝗿 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲: 𝗚𝗗𝗣𝗥 𝗮𝗻𝗱 𝗗𝗢𝗥𝗔 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗔𝗴𝗲 💡 In today’s digital era, ensuring compliance with regulations like GDPR and DORA is crucial for businesses to safeguard data and maintain operational resilience. ✅𝗚𝗗𝗣𝗥 (𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗗𝗮𝘁𝗮 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻) focuses on data privacy and protection. It applies to all organizations handling personal data of EU residents. Key features include the right to access, right to be forgotten, and stringent data breach notifications. GDPR came into force on May 25, 2018. Non-Penalties can lead up to 20 million euros or 4% of annual global turnover whichever is higher. ✅𝗗𝗢𝗥𝗔 (𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 𝗔𝗰𝘁) targets cybersecurity and operational resilience for financial entities. It mandates robust information and communication technology (ICT) risk management, incident reporting, and resilience testing to withstand disruptions. DORA entered into force on January 16, 2023, and will be fully applicable from January 17, 2025. Non- Compliances can lead up to 2% of their total annual worldwide turnover for companies or, in the case of an individual, a maximum fine of EUR 1,000,000. 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗚𝗗𝗣𝗥: - Data Privacy: Protects individuals' personal data and privacy rights. - Trust Building: Enhances consumer trust by ensuring data is handled securely. - Legal Compliance: Avoids hefty fines and legal issues for non-compliance. 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗗𝗢𝗥𝗔: - Operational Resilience: Ensures financial entities can recover swiftly from disruptions. - Risk Management: Strengthens ICT risk management practices. - Regulatory Harmonization: Standardizes cybersecurity measures across the financial sector. Here is an infographic that shows important differences between GDPR and DORA. If you have any other points, put it in the comments! 𝗬𝗼𝘂 𝗰𝗮𝗻 𝗳𝗼𝗹𝗹𝗼𝘄 𝗺𝗲 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝘀𝘂𝗰𝗵 𝗰𝗼𝗻𝘁𝗲𝗻𝘁𝘀. 🖌️ Source Credit: Sourabh Chakraborty CISA,CISM,CRISC(Q)🟢 #riskassessment #informationsecurity #cybersecurity #databreach #vulnerability #ISO27001 #datasecurity #data #cloudsecurity #privacy #security #thirdpartyriskmanagement #data #compliance #securitypolicy #riskmanagement #success #startups #security #information #GDPR #DORA

If you want to know what we do here at Privaini take a look at our latest video. #privaini #dataprivacy

Assess Your #DORA Readiness with 'DORA in a Box' As the January 2025 deadline for the Digital Operational Resilience Act (DORA) approaches, financial institutions are starting to come to the end of their implementation programs. Is your organization ready to report on your compliance with DORA by January? Are you confident in your ability to resume your critical services within acceptable time frames? Our DORA readiness assessment, powered by GenAI, can help you assess your compliance quickly and efficiently. AI-Powered, Fast-track Readiness Assessment Our GenAI ‘DORA in a Box’ tool streamlines your readiness assessment and implementation progress. Using the latest in artificial intelligence, it analyzes your current policies and procedures, identifies any remaining gaps, and provides actionable insights to ensure you meet all regulatory requirements. 'DORA in a Box’: Minimum Viable DORA Leveraging GenAI technology and our extensive experience assisting clients on DORA, we can help you address the most critical requirements for DORA compliance, including: Assessing Critical or Important Functions & supporting ICT third-party providers Developing a Digital Operational Resilience Strategy (Re)-designing ICT risk & control framework Revisiting procedures for external (regulatory & client) reporting for Major ICT Incidents Completing regulatory reports, particularly the Register of Information Don't be left behind. Multiple clients across the world are supported through our DORA in a Box tool to accelerate their DORA readiness. Reach out to discuss how we can fast-track your DORA readiness! #DORA #Resilience #Cybersecurity #RegulatoryCompliance #TechEnabled #AIComplianceTool #RegisterofInformation #PwC