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Italy: Bank of Italy releases report on cyber threat intelligence capabilities

The Bank of Italy announced, on November 23, 2023, the publication of a report on Cyber Threat Intelligence (CTI) capabilities and their relevance for the cyber resilience of Financial Market Infrastructures (FMIs).

Background to the report

The report notes that the banking sector is one of the most affected in terms of incident costs and highlights that cyberattacks against FMIs can pose a systemic risk to financial stability by impairing the provision of critical economic functions and undermining confidence in the financial system. As such, in recent years, an increasing number of organizations are implementing or enhancing their CTI capabilities to deal with cyber threats. 

A new framework to develop advanced CTI capabilities

However, according to the report, the definition and automation of CTI processes are still underdeveloped, partly due to the lack of established technology-neutral best practices. Accordingly, the report proposes a framework developed by the Computer Emergency Response Team of the Bank of Italy (CERTBI) that integrates taxonomic aspects and specific functional processes in order to develop advanced CTI capabilities.

You can read the press release here and the report here, only available in Italian.