Dora technical standards shoot for break in the clouds
One goal of the EU’s latest ICT risk act is to mitigate cloud concentration. Some experts say it may make it worse.
The capital markets’ march to cloud has produced an uneasy reliance on Big Tech. With so many banks and marketplaces relying on so few cloud providers, potential failings and hackings could impact millions of customers’ personal and financial data stored at dozens of firms around the world. That scenario, arising from cloud concentration risk, is not lost on the European Supervisory Authorities, who delivered the first batch of technical standards under the Digital Operational Resilience Act
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