November 08, 2024 3 Minute Read

Cybersecurity and operational resilience are paramount for organizations, especially those handling sensitive information.

Three prominent compliance standards— the US CMMC 2.0, the Australian CORIE, and the EU’s DORA —address these needs in different sectors and regions. This blog will compare and contrast these standards, highlighting their unique features, similarities, and differences.

Understanding the Basics of CMMC 2.0, CORIE, and DORA Compliance Standards

CMMC 2.0 (Cybersecurity Maturity Model Certification 2.0): CMMC 2.0 is a cybersecurity framework developed by the US Department of Defense (DoD) to protect Federal Contract Information (FCI) and Controlled Unclassified Information (CUI) shared with defense contractors. It consists of three levels of cybersecurity maturity, each aligned with specific NIST standards. Level 1 focuses on basic cyber hygiene, Level 2 aligns with NIST SP 800-171, and Level 3, still under development, will incorporate elements of NIST SP 800-172.

The CMMC 2.0 final rule is effective as of December 16, 2024. However, the phased implementation of CMMC 2.0 requirements in DoD contracts is expected to begin in Q1 2025. This means even when the rule is in effect, the full impact of CMMC 2.0 on DoD contractors and subcontractors will not be felt until next year.

CORIE (Cyber Operational Resilience Intelligence-led Exercises): CORIE is an Australian framework designed by the Council of Financial Regulators (CFR) to enhance the cyber resilience of financial institutions through intelligence-led adversary attack simulations. It involves Red Team exercises to simulate realistic cyberattacks, helping institutions identify vulnerabilities and improve their defense mechanisms. CORIE is mandatory for financial institutions regulated by the Australian Prudential Regulation Authority (APRA).

While CORIE is a framework and not a specific regulation, its guidelines and exercises are designed to help Australian financial institutions improve their cyber resilience. While CORIE is not a direct regulation, financial institutions in Australia are expected to adhere to its principles and conduct the required exercises to demonstrate their cyber resilience.

DORA (Digital Operational Resilience Act): DORA is a European Union regulation aimed at strengthening the digital operational resilience of financial entities across the EU. It establishes a comprehensive framework for managing Information and Communications Technology (ICT) risks, including requirements for risk management, incident reporting, and third-party risk management. DORA applies to a wide range of financial entities and ICT service providers, ensuring a harmonized approach to cybersecurity across the EU.

DORA is technically in effect, having come into force on December 14, 2022. However, operational mandates do not become effective until January 17, 2025. This means that financial institutions and their third-party service providers are now required to comply with the regulations set forth by DORA.

Key Features and Requirements

CMMC 2.0 has three levels of maturity, each with specific practices and processes. It directly aligns with NIST SP 800-171 and SP 800-172. The framework requires higher-level third-party assessments, while Level 1 allows self-assessment. The primary focus is on protecting DoD information within the Defense Industrial Base (DIB).

CORIE uses Red Team exercises to simulate real-world cyberattacks. Participation is mandatory for financial institutions regulated by APRA. The framework aims to improve the overall cyber resilience of financial institutions and incorporates threat intelligence to tailor simulations to current threat landscapes.

DORA covers comprehensive ICT risk management, including risk management, incident reporting, and third-party risk management. It standardizes cybersecurity requirements across the EU and applies to a broad range of financial entities and ICT service providers. DORA mandates the reporting of major ICT-related incidents to competent authorities.

Shared Cybersecurity Goals

All three standards emphasize the importance of robust cybersecurity practices to protect sensitive information and ensure operational resilience. Each standard is mandatory for specific sectors—CMMC 2.0 for the US defense sector, CORIE for Australian financial institutions, and DORA for EU financial entities. They all incorporate risk management principles to identify, assess, and mitigate cybersecurity risks.

Major Differences in Compliance in the Standards

The scope and applicability of each standard vary. CMMC 2.0 focuses on the US defense sector and contractors handling DoD information. CORIE targets Australian financial institutions regulated by APRA. DORA applies to a wide range of financial entities and ICT service providers across the EU.

Assessment and certification processes also differ. CMMC 2.0 requires third-party assessments for higher levels while allowing self-assessment for Level 1. CORIE involves Red Team exercises conducted by third-party providers. DORA mandates compliance with standardized ICT risk management practices but does not specify third-party assessments.

The focus areas of each standard are distinct. CMMC 2.0 is primarily concerned with protecting DoD information. CORIE emphasizes improving cyber resilience through adversary simulations. DORA aims to harmonize ICT risk management across the EU financial sector.

Choosing the Right Compliance Standard for Enhanced Cybersecurity and Operational Resilience

CMMC 2.0, CORIE, and DORA each play a crucial role in enhancing cybersecurity and operational resilience within their respective domains. While they share common goals of protecting sensitive information and managing cyber risks, their approaches and specific requirements differ based on the sectors and regions they serve. Understanding these differences is essential for organizations to effectively navigate and comply with these standards, ensuring robust cybersecurity and resilience in an increasingly digital world.