## Italy: Financial Sector Assessment Program-Technical Note on Cyber Risk Supervision and Oversight

_IMF Staff Country Reports, September 3, 2026_

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## Bibliographic details
- Published: September 3, 2026
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229061025.002

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### Digital transformation and adoption
- Digital payments surpassed cash transactions since 2022.
- Increased reliance on third-party service providers, particularly cloud services.
- 64 percent of Less Significant Institutions (LSIs) and Nonbank Financial Intermediaries (NBFIs) use cloud solutions.
- The insurance sector reports 96 percent cloud adoption.
- Digital channels are now the primary interface for most policyholders.

### Cyber and operational risk landscape
- Rising incidents of fraud, ransomware, phishing, distributed denial-of-service (DDoS) attacks, supply chain vulnerabilities, and data breaches.
- In 2024, 35 major cyberattacks occurred.
- Three of the 2024 major cyberattacks resulted in estimated losses exceeding EUR 2 million each.
- Payment fraud losses reached EUR 246 million.
- Fraud accounts for only a marginal share of total payment transactions (around 0.003 percent in value) and was broadly in line with averages in the European Union.
- The sharp increase of operational incidents in 2024 highlighted the risk from using and depending on third-party service providers to deliver financial services.

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_Source: https://www.imf.org/en/publications/cr/issues/2026/09/02/italy-financial-sector-assessment-program-technical-note-on-cyber-risk-supervision-and-579293_