Tag: DIGITAL THREAT REPORT 2024

India launches first Digital Threat Report 2024 to support cybersecurity in the Banking, Financial Services and Insurance (BFSI) sector Report Title: Digital Threat Report 2024 for BFSI. Collaborators: CERT-In (MeitY), CSIRT-Fin, and SISA (global cybersecurity company). Key Objectives To analyze current and emerging cyber threats in the BFSI sector. To recommend cyber defense strategies for enhanced financial security. Promote collaborative cybersecurity intelligence sharing. Help financial institutions anticipate, adapt, and respond to advanced threats. Cybersecurity: A National Imperative Cyber Security is protecting cyber space including critical information infrastructure from attack, damage, misuse and economic espionage. Interconnected nature of BFSI—a cyberattack can affect multiple institutions. Emphasized national-level coordination and collaborative defence. Cybersecurity is foundational to financial stability, not just an option. Digital financial transactions require integrated approaches: tech, regulations, and intelligence. Key Insights from the Report Merges insights from SISA's forensic intelligence, CERT-In’s oversight, and CSIRT-Fin’s incident responses. Covers real-world cyber incidents, evolving attack vectors, and security gaps. Emphasis Areas: Adversarial tactics affecting system-wide operations. AI-driven attacks, advanced frauds, and compliance hurdles. Actionable steps for improving security across people, process, and technology. Digital Transformation and Cyber Risks By 2028, digital payments expected to touch $3.1 trillion, making up 35% of total banking revenues. Rapid digitalisation increases cyber threat surface. BFSI sector is both critical and vulnerable—necessitates proactive strategies. Strategic Contributions Cybersecurity is about securing ecosystems, not just entities. Stressed the importance of collaborative intelligence and resilience building. Report is a tool to fortify India’s BFSI sector. Integrates threat intelligence to provide proactive defence mechanisms. Significance The report is a strategic call to action for: Financial institutions. Regulators Cybersecurity professionals. Aims to navigate complex, evolving cyber risks in a digitally transforming economy. Reinforces India’s position as a global benchmark in BFSI cybersecurity

Tag: DIGITAL THREAT REPORT 2024

DIGITAL THREAT REPORT 2024

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