Ireland:
Ireland Update: EBA ICT And Risk Management Guidelines Apply From 30 June 2020
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The European Banking Authority
("EBA") Guidelines on ICT and security
risk management (the "Guidelines") set
out detailed requirements regarding the information and
communication technology ("ICT")
arrangements for in-scope firms (link to the Guidelines here).
The Guidelines define ICT and security risk as the:
"Risk of loss due to breach of confidentiality, failure
of integrity of systems and data, inappropriateness or
unavailability of systems and data or inability to change
information technology within a reasonable time and with reasonable
costs when the environment or business requirements change (i.e.
agility). This includes security risks resulting from inadequate or
failed internal processes or external events including
cyber-attacks or inadequate physical security."
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