To bolster cybersecurity in the Banking, Financial Services, and Insurance (BFSI) sector, the Ministry of Electronics & IT (MeitY), alongside CERT-In, CSIRT-Fin, and global cybersecurity leader SISA, launched the Digital Threat Report 2024.
This initiative aims to address sector-wide security gaps and emerging cyber risks through a unified framework, empowering financial institutions to strengthen their defenses.
Speaking at the launch, Shri S. Krishnan, Secretary, MeitY, emphasized the interconnected nature of the BFSI ecosystem, stressing the importance of coordinated efforts to mitigate systemic cyber threats. The report offers insights into adversarial tactics and vulnerabilities while recommending preventive measures to fortify the sector against AI-driven attacks and sophisticated fraud.
Dr. Sanjay Bahl, Director General of CERT-In, stated that the report represents India’s commitment to global financial cybersecurity standards. By integrating intelligence from SISA, CERT-In, and CSIRT-Fin, the report provides actionable solutions for adapting to dynamic cyber risks while ensuring the security and trust of digital transactions.
The BFSI sector, a critical driver of India’s economy, is witnessing a rapid digital transformation with projections of $3.1 trillion in digital payments by 2028. The Digital Threat Report 2024 serves as a strategic guide for financial institutions navigating the complexities of modern cybersecurity challenges.
