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Development of a cyber threat intelligence apparatus in a central bank

Author

Listed:
  • Boris Giannetto

    (Bank of Italy)

  • Pasquale Digregorio

    (Bank of Italy)

Abstract

The present work defines the development of a cyber threat intelligence (CTI) apparatus in a central bank. Such a system aims at promoting a preventive posture against constantly evolving threats such as cybercrime, cyber espionage, hacktivism, cyberterrorism and state-sponsored APTs. Central banks are targeted by a gamut of threat actors. Cyber-attacks against financial institutions are on the rise: Those directed against strategic data, infrastructures and platforms of a central bank, could have momentous repercussions on the vital ganglia of the financial system as a whole. CTI operates on a three-level scale: Tactical/technical, operational and strategic. As to the latter, geopolitical and context analysis is key. The proposed CTI apparatus - designed to cope with multifarious cyber threats - aims at spurring systemic prevention and resilient reaction.

Suggested Citation

  • Boris Giannetto & Pasquale Digregorio, 2019. "Development of a cyber threat intelligence apparatus in a central bank," Questioni di Economia e Finanza (Occasional Papers) 517, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_517_19
    as

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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2019-0517/QEF_517_19.pdf
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    References listed on IDEAS

    as
    1. International Monetary Fund [IMF], 2018. "World Economic Outlook, April 2018: Cyclical Upswing, Structural Change," Working Papers id:12768, eSocialSciences.
    2. Antoine Bouveret, 2018. "Cyber Risk for the Financial Sector: A Framework for Quantitative Assessment," IMF Working Papers 2018/143, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Giuseppe Amato & Simone Ciccarone & Pasquale Digregorio & Giuseppe Natalucci, 2023. "A service architecture for an enhanced Cyber Threat Intelligence capability and its value for the cyber resilience of Financial Market Infrastructures," Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) 43, Bank of Italy, Directorate General for Markets and Payment System.

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    More about this item

    Keywords

    cyber threat intelligence; cyber intelligence; geopolitical analysis; complex adaptive systems; cybersecurity; cyber resilience;
    All these keywords.

    JEL classification:

    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • K24 - Law and Economics - - Regulation and Business Law - - - Cyber Law
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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