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Wednesday, 9 November 2022 - Brussels Provisional edition

Digital finance: Digital Operational Resilience Act (DORA) - Digital Finance: Amending Directive regarding Digital Operational Resilience requirements (debate)

  Frances Fitzgerald, on behalf of the PPE Group. – Mr President, Commissioner, colleagues, it is not possible to talk about security without talking about digital. Today, the threats to society and our way of life exist just as much online as they do on a battlefield. We are it seeing right now with the ever-increasing number of cyberattacks coming from places like Russia and China – we’re seeing it right now.

In Ireland last year, we saw an enormous and unprecedented cyberattack on our health service, with the personal data of thousands of people compromised. Imagine the same happening to an entire financial system. European citizens must be able to have confidence in the systems they use to save and invest their money. This is why this regulation is so important and essential. We need to implement it very quickly because of all the sensitive data that is held by our EU-wide financial services.

Robust cybersecurity rules are essential to help the digitalisation of European finance and make this a sector fit for the 21st century. I want to thank all of the rapporteurs that we worked with, and in particular I would like to say that my colleague Billy Kelleher led so very well on this file and worked so cooperatively with all of us.

If Europe wants to become a leading centre for financial services investment, we do need urgently a cybersecurity system in which people can have full and total confidence. It is an essential part of dealing with the future we are all facing.

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