The European DORA Directive, which is binding for the Czech Republic and all other Member States, aims to protect banks, other financial institutions and the accounts of millions of people. The EU is responding to the growing number of cyber attacks. It therefore sets clear rules for financial institutions on how they should protect themselves from digital risks and what they should do if they are actually hit by an attack. The change will be particularly important for supply chains and smaller financial institutions, which have not had to deal with this issue much until now. What will the European Directive bring in particular?

The war in Ukraine and the growing geopolitical tensions took companies in the Czech Republic and Europe by surprise, similarly to the Covid-19 pandemic a few years ago. However, the experience of the pandemic helped companies to better face the impacts of geopolitics on the supply chain. More than two-thirds of European companies are not sufficiently prepared for the consequences of rising geopolitical tensions. Almost four-fifths of companies worldwide consider these tensions to be one of the most serious threats to their business. Alongside this, the number of companies that do not feel adequately prepared for the risk of potential cyberattacks has also doubled.