India Launches Digital Threat Report 2024

In a landmark step towards enhancing cybersecurity resilience in India’s financial ecosystem, the Ministry of Electronics and Information Technology (MeitY), through CERT-In, along with CSIRT-Fin and cybersecurity firm SISA, jointly released the Digital Threat Report 2024 for the BFSI sector on April 7, 2025. The report provides a comprehensive analysis of current and emerging cyber threats affecting the Banking, Financial Services, and Insurance (BFSI) sector and aims to strengthen collective defense strategies and build long-term cyber resilience across the industry.

Key Highlights of the Digital Threat Report 2024

Strategic Launch and Participation

Launched by,

• Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance.
• Shri S. Krishnan, Secretary, Ministry of Electronics and IT (MeitY).
• Dr. Sanjay Bahl, Director General, CERT-In.
• Dharshan Shanthamurthy, Founder & CEO, SISA.

Importance of Cybersecurity for Financial Stability

• Cybersecurity is fundamental to maintaining trust and ensuring the stability of financial systems.
• A single attack in the interconnected BFSI ecosystem can cause systemic damage, affecting multiple entities.
• The report calls for a unified cybersecurity strategy involving all stakeholders: government, regulators, industry, and global cyber bodies.

Key Threats & Challenges Identified

• Rapid digital adoption in BFSI has expanded attack surfaces.
• Increasing use of AI-driven attacks and sophisticated fraud techniques.
• Emergence of sector-wide security gaps and evolving adversarial tactics.
• Escalating compliance challenges in an increasingly digital environment.

Insights and Recommendations from the Report

Integration of intelligence from,

• SISA’s real-world forensic investigations
• CERT-In’s national cyber oversight
• CSIRT-Fin’s sector-specific incident response
• Provides a multi-dimensional view of cyber threats and solutions.

Offers practical, actionable recommendations across,

• People: Employee awareness and training.
• Process: Regulatory alignment and incident response protocols.
• Technology: Advanced threat detection, predictive analytics, and secure architecture.

Vision for a Resilient Digital Future

• The report is a strategic blueprint for proactive defense.

Empowers financial institutions to,

• Anticipate vulnerabilities
• Adapt to emerging threats
• Strengthen cyber defenses
• Ensure long-term resilience

Collaboration is Key

• Emphasis on collaborative intelligence-sharing to stay ahead of adversaries.
• Reinforces India’s ambition to set global benchmarks in financial cybersecurity.
• Builds trust in digital transactions and supports the vision of a secure digital economy.