MeitY Unveils First-Ever Digital Threat Report 2024 to Strengthen Cybersecurity in the BFSI Sector.

In April 2025, the Ministry of Electronics and Information Technology (MeitY) launched the 1st edition of the Digital Threat Report 2024 focused on the Banking, Financial Services, and Insurance (BFSI) sector. The report offers a comprehensive overview of both current and emerging cyber threats along with defense strategies tailored for the BFSI domain.

      - The report aims to present adversaries’ tactics and playbooks, recommend preventive and detective controls, forecast future attacks, highlight current cybersecurity trends, showcase select case studies, and analyze the impact of Artificial Intelligence (AI) in cyber breaches.

      - The Digital Threat Report 2024 was officially launched by M. Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance (MoF); S. Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY); Dr. Sanjay Bahl, Director General of CERT-In, New Delhi; and Dharshan Shanthamurthy, Founder & CEO of SISA Information Security.

      - The 1st edition of the Digital Threat Report 2024 was developed by CERT-In in collaboration with CSIRT-Fin and SISA, a global forensic-driven cybersecurity company specializing in digital payments. The report is aimed at strengthening the cyber defense strategies of the Banking, Financial Services, and Insurance (BFSI) sector by reducing financial risks and building a collective response framework to counter advanced cyber threats.

Main Point :-   (i) The report draws from a rich mix of sources, including SISA’s digital forensics and incident response (DFIR) investigations, cybersecurity intelligence reports, and key insights from CSIRT-Fin and CERT-In. This blend offers a comprehensive threat landscape view, focusing on key attack vectors, systemic vulnerabilities, and tactics used by rising threat actors targeting BFSI entities.

      (ii) A strong emphasis is placed on adopting an integrated cybersecurity approach, which unifies technology, regulatory compliance, and proactive threat intelligence. This strategic alignment is designed to help financial institutions enhance their cyber resilience, anticipate vulnerabilities, and maintain stability in the face of evolving cyber risks.

(iii) With India’s digital payments market projected to reach USD 3.1 trillion by 2028, contributing to 35% of total banking revenues, the BFSI sector has become an increasingly attractive target for cyber-criminals. The report serves as a critical strategic tool, equipping organizations with real-time intelligence and guidance to stay ahead of sophisticated cyber-attacks.
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