Digital Threat Report 2024

Prelims – Current events of national and international importance.

Mains (GS III) – Challenges to internal security through communication networks, role of media and social networking sites in internal security challenges, basics of cyber security; money-laundering and its prevention.

Why in News?

India launches first Digital Threat Report 2024 recently.

• Aim - To address the escalating cyber threats faced by financial institutions.
• Launched by - Ministry of Electronics and Information Technology.
• Collaborated with - CERT-In (MeitY), CSIRT-Fin and SISA, a global Cybersecurity company.
• It highlights the critical need for a cohesive cybersecurity framework to safeguard the nation's financial infrastructure.
• The report addresses
  • Illuminate Adversaries’ Playbook
  • Anticipate Future Attacks
  • Assess the Impact of AI in Breaches
  • Recommend Preventive and Detective Controls
  • Highlight Current Trends and Select Cases
• Anticipated Cyber Threats in 2025
  • Rise of deep fakes and AI-generated content
  • Growing threat of supply chain attacks and malicious libraries
  • Emerging threat of LLM prompt hacking in applications
  • Influence of adversarial LLMs enhancing attack capabilities
  • Quantum computing – A looming threat to cryptography
  • Crypto – A new frontier for cyber threats
  • IOT, the emerging threats to embedded devices.
• Suggestions to Policy Makers
  • Cybersecurity should be a techno commercial business decision and not just decided only on commercials
  • Digital Payment Security to have common standards for all Digital Payment Form Factors
  • Clear Preparation Roadmap for Post Quantum Cryptography
  • Empower CISOs through direct reporting to the CEO/CRO instead of CTO or CIO
  • Create more Certified Digital Payment Security Specialists in the ecosystem
  • Building a Responsible AI Framework for BFSI
• The report calls on financial institutions, regulators, and security experts to take a proactive stance in addressing cyber threats.
• As AI-driven attacks become more prevalent and compliance demands grow increasingly complex, the necessity for strategic direction in managing the cybersecurity environment is important.

References

1. PIB | Digital Threat Report 2024
2. CSK Govt | Digital-threat-report