Summary: The International Monetary Fund highlights that the financial sector has suffered significant cyber incidents, prompting the EU to implement the Digital Operational Resilience Act (DORA) by January 2025. DORA mandates financial institutions to adopt rigorous cybersecurity measures, including Threat Led Penetration Testing (TLPT) to assess vulnerabilities. This comprehensive approach aims to enhance operational resilience and security against evolving cyber threats.

Threat Actor: Cybercriminals | cybercriminals
Victim: Financial Institutions | financial institutions

Keypoints :

• Nearly 20% of reported cyber incidents in the last two decades have impacted the global financial sector, leading to $12 billion in losses.
• DORA requires financial institutions to implement stringent cybersecurity measures, including TLPT, to simulate real-world attacks.
• Continuous threat surveillance and testing are essential for compliance and to adapt to emerging risks in the financial services landscape.