Cyber risk is recognized by authorities as posing a significant threat to the financial sector and overall financial stability in Peru. With further digitalization expected, authorities have plans to develop a comprehensive cybersecurity strategy for the financial sector. Guided by the G7 Fundamental Elements of Cybersecurity for the Financial Sector, this covers: cybersecurity strategy and framework; governance; risk and control assessment; monitoring; response; recovery; information sharing; and continuous learning. There could be challenges in implementing the cybersecurity strategy, which could be overcome with sector coordination and collective action [88 words].