The financial sector is a primary target for cyber threats due to the intense digitalization of business models and services, as well as its wide-ranging and increasing interconnections. Among the tools available for operators to raise their defence capabilities, it is worth emphasising the execution of advanced cybersecurity tests, also known as Threat-Led Penetration Testing (TLPT). Performing such tests helps financial entities to strengthen their cyber resilience posture and, as a result, that of the financial system as a whole.
The Bank of Italy, Consob and IVASS have jointly adopted the TIBER-IT National Guidance, which is the national transposition of the TIBER-EU framework, a reference model for conducting harmonised TLPT at the European level.
TIBER-IT has been adopted from a financial stability perspective within the scope of the responsibilities entrusted to the three Authorities by the regulations regarding the stability, efficiency and competitiveness of the financial system, as well as those concerning the oversight of the smooth functioning, reliability and efficiency of the payments system.
Financial entities can undergo a TIBER-IT test on a voluntary basis. The Authorities ensure their support to the entities performing the test, and communicate compliance with the requirements of the TIBER-IT National Guidance and other relevant provisions. Moreover, the authorities manage the activities for cross-border mutual recognition of the test, where necessary.
In particular, the TIBER-IT National Guidance:
- a) identifies the methodology and operating model for the execution of TLPT tests by Italian financial entities according to the TIBER-EU framework;
- b) outlines the different phases of the testing process;
- c) defines the roles, responsibilities and activities of the various stakeholders as regards the tested entity, external providers and the Authorities.
To support financial entities in the use of this methodology and in the testing activities, the three Authorities provide a specific centre of competence: the TIBER Cyber Team Italy (TCT). Experts from the Bank of Italy, in close collaboration with experts from Consob and IVASS, ensure TCT operations.
For information on TIBER-IT tests, the TCT can be contacted at the above mentioned e-mail address. This e-mail supports secure communications by encryption, if deemed necessary. The certificate containing the related public encryption key is available as reported below.