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.

Summary/Static	Details
Why in the news?	India Launches Digital Threat Report 2024
Launched By	MeitY (CERT-In), DFS (Ministry of Finance), CSIRT-Fin, SISA
Primary Sector Focus	Banking, Financial Services, and Insurance (BFSI)
Purpose	Analyze current/emerging threats, offer defense strategies, build resilience
Key Threats	Identified AI-driven attacks, fraud tactics, expanded attack surfaces
Strategic Objectives	Unified cybersecurity framework, proactive defense, intelligence-sharing
Partners’ Contribution	SISA (forensics), CERT-In (oversight), CSIRT-Fin (incident response)
Key Statement (MeitY)	Need for collective cybersecurity action due to interconnected risk
Key Statement (Finance Sec.)	“Cybersecurity is the foundation of financial stability in the digital age.”
Outcome Expected	Strengthened cyber defense, improved readiness, secure financial ecosystem