diff --git a/pkg/iac/scanners/cloudformation/parser/file_context.go b/pkg/iac/scanners/cloudformation/parser/file_context.go
index b1b2732eff..7b0bc83183 100644
--- a/pkg/iac/scanners/cloudformation/parser/file_context.go
+++ b/pkg/iac/scanners/cloudformation/parser/file_context.go
@@ -1,6 +1,11 @@
 package parser
 
 import (
+	"fmt"
+	"maps"
+	"regexp"
+	"strings"
+
 	"github.com/samber/lo"
 
 	"github.com/aquasecurity/trivy/pkg/iac/ignore"
@@ -12,6 +17,8 @@ type SourceFormat string
 const (
 	YamlSourceFormat SourceFormat = "yaml"
 	JsonSourceFormat SourceFormat = "json"
+
+	ForEachPrefix = "Fn::ForEach::"
 )
 
 type FileContexts []*FileContext
@@ -81,3 +88,168 @@ func (t *FileContext) stripNullProperties() {
 		})
 	}
 }
+
+func (t *FileContext) expandTransforms() error {
+	resources := make(map[string]*Resource, len(t.Resources))
+
+	for name, r := range t.Resources {
+		if r.raw == nil {
+			resources[name] = r
+			continue
+		}
+
+		instances, err := t.expandTransform(r.raw, name)
+		if err != nil {
+			return err
+		}
+
+		for logicalID, rawProp := range instances {
+			instance, err := newExpandedResource(r, logicalID, rawProp)
+			if err != nil {
+				return err
+			}
+			resources[logicalID] = instance
+		}
+	}
+
+	t.Resources = resources
+	return nil
+}
+
+func newExpandedResource(base *Resource, logicalID string, raw *Property) (*Resource, error) {
+	rawMap := raw.AsMap()
+	typProp, ok := rawMap["Type"]
+	if !ok {
+		return nil, fmt.Errorf("missing 'Type' in expanded resource %q", logicalID)
+	}
+	propsProp, ok := rawMap["Properties"]
+	if !ok {
+		return nil, fmt.Errorf("missing 'Properties' in expanded resource %q", logicalID)
+	}
+
+	instance := base.clone()
+	instance.typ = typProp.AsString()
+	instance.properties = propsProp.AsMap()
+	instance.setId(logicalID)
+	return instance, nil
+}
+
+func (t *FileContext) expandTransform(prop *Property, logicalName string) (map[string]*Property, error) {
+	if strings.HasPrefix(logicalName, "Fn::ForEach::") {
+		return expandForEach(prop, nil)
+	}
+
+	return nil, nil
+}
+
+func expandForEach(prop *Property, parentCtx *LoopContext) (map[string]*Property, error) {
+
+	args := prop.AsList()
+	if len(args) != 3 {
+		return nil, fmt.Errorf("invalid Fn::ForEach: expected 3 arguments, got %d", len(args))
+	}
+
+	identifier := args[0].AsString()
+	coll := args[1].AsList()
+	templ := args[2].AsMap()
+
+	result := make(map[string]*Property)
+
+	for _, el := range coll {
+		loopCtx := parentCtx.Child(identifier, el)
+
+		for tmplKey, templValue := range templ {
+			cp := templValue.clone()
+
+			// handle nested loop
+			if strings.HasPrefix(tmplKey, ForEachPrefix) {
+				nestedResult, err := expandForEach(cp, loopCtx)
+				if err != nil {
+					return nil, err
+				}
+				maps.Copy(result, nestedResult)
+				continue
+			}
+
+			logicalID := resolveLoopPlaceholders(tmplKey, loopCtx)
+			cp.setLogicalResource(logicalID)
+			if err := expandProperties(cp, loopCtx); err != nil {
+				return nil, err
+			}
+
+			result[logicalID] = cp
+		}
+	}
+
+	return result, nil
+}
+
+var placeholderRe = regexp.MustCompile(`[$&]\{([^}]+)\}`)
+
+func resolveLoopPlaceholders(v string, loopCtx *LoopContext) string {
+	return placeholderRe.ReplaceAllStringFunc(v, func(s string) string {
+		id := s[2 : len(s)-1]
+		val, found := loopCtx.Resolve(id)
+		if found {
+			return val.AsString()
+		}
+		return s
+	})
+}
+
+func expandProperties(prop *Property, parentCtx *LoopContext) error {
+	prop.loopCtx = parentCtx
+
+	switch v := prop.Value.(type) {
+	case string:
+		prop.Value = resolveLoopPlaceholders(v, parentCtx)
+	case map[string]*Property:
+		newProps := make(map[string]*Property)
+		for k, el := range v {
+			if strings.HasPrefix(k, ForEachPrefix) {
+				expanded, err := expandForEach(el, parentCtx)
+				if err != nil {
+					return err
+				}
+				maps.Copy(newProps, expanded)
+			} else {
+				if err := expandProperties(el, parentCtx); err != nil {
+					return err
+				}
+				newProps[k] = el
+			}
+		}
+		prop.Value = newProps
+	case []*Property:
+		for _, el := range v {
+			if err := expandProperties(el, parentCtx); err != nil {
+				return err
+			}
+		}
+	}
+	return nil
+}
+
+type LoopContext struct {
+	Identifier string
+	Value      *Property
+	Parent     *LoopContext
+}
+
+func (c *LoopContext) Child(identifier string, value *Property) *LoopContext {
+	return &LoopContext{
+		Identifier: identifier,
+		Value:      value,
+		Parent:     c,
+	}
+}
+
+func (c *LoopContext) Resolve(name string) (*Property, bool) {
+	if c.Identifier == name {
+		return c.Value, true
+	}
+	if c.Parent != nil {
+		return c.Parent.Resolve(name)
+	}
+	return nil, false
+}
diff --git a/pkg/iac/scanners/cloudformation/parser/fn_ref.go b/pkg/iac/scanners/cloudformation/parser/fn_ref.go
index afc6ead7cf..8357d4a35b 100644
--- a/pkg/iac/scanners/cloudformation/parser/fn_ref.go
+++ b/pkg/iac/scanners/cloudformation/parser/fn_ref.go
@@ -4,7 +4,7 @@ import (
 	"github.com/aquasecurity/trivy/pkg/iac/scanners/cloudformation/cftypes"
 )
 
-func ResolveReference(property *Property) (resolved *Property, success bool) {
+func ResolveReference(property *Property) (*Property, bool) {
 	if !property.isFunction() {
 		return property, true
 	}
@@ -19,16 +19,18 @@ func ResolveReference(property *Property) (resolved *Property, success bool) {
 		return property.deriveResolved(pseudo.t, pseudo.val), true
 	}
 
+	if property.loopCtx != nil {
+		v, found := property.loopCtx.Resolve(refValue)
+		if found {
+			return property.deriveResolved(v.Type, v.RawValue()), true
+		}
+	}
+
 	if property.ctx == nil {
 		return property, false
 	}
 
-	var param *Parameter
-	for k := range property.ctx.Parameters {
-		if k != refValue {
-			continue
-		}
-		param = property.ctx.Parameters[k]
+	if param, exists := property.ctx.Parameters[refValue]; exists {
 		resolvedType := param.Type()
 
 		switch param.Default().(type) {
@@ -40,16 +42,14 @@ func ResolveReference(property *Property) (resolved *Property, success bool) {
 			resolvedType = cftypes.Int
 		}
 
-		resolved = property.deriveResolved(resolvedType, param.Default())
+		resolved := property.deriveResolved(resolvedType, param.Default())
 		return resolved, true
 	}
 
-	for k := range property.ctx.Resources {
-		if k == refValue {
-			res := property.ctx.Resources[k]
-			resolved = property.deriveResolved(cftypes.String, res.ID())
-			break
-		}
+	if res, exists := property.ctx.Resources[refValue]; exists {
+		resolved := property.deriveResolved(cftypes.String, res.ID())
+		return resolved, true
 	}
-	return resolved, true
+
+	return nil, false
 }
diff --git a/pkg/iac/scanners/cloudformation/parser/parser.go b/pkg/iac/scanners/cloudformation/parser/parser.go
index 8ac14b3270..af60b759c3 100644
--- a/pkg/iac/scanners/cloudformation/parser/parser.go
+++ b/pkg/iac/scanners/cloudformation/parser/parser.go
@@ -163,6 +163,10 @@ func (p *Parser) ParseFile(ctx context.Context, fsys fs.FS, filePath string) (fc
 		r.configureResource(name, fsys, filePath, fctx)
 	}
 
+	if err := fctx.expandTransforms(); err != nil {
+		return nil, err
+	}
+
 	return fctx, nil
 }
 
diff --git a/pkg/iac/scanners/cloudformation/parser/parser_test.go b/pkg/iac/scanners/cloudformation/parser/parser_test.go
index 9c7e5d1400..f3b410370e 100644
--- a/pkg/iac/scanners/cloudformation/parser/parser_test.go
+++ b/pkg/iac/scanners/cloudformation/parser/parser_test.go
@@ -482,3 +482,158 @@ Resources:
 
 	assert.True(t, res.GetProperty("PublicAccessBlockConfiguration.BlockPublicAcls").IsNil())
 }
+
+func Test_ExpandForEachYAML(t *testing.T) {
+	source := `AWSTemplateFormatVersion: 2010-09-09
+Transform: AWS::LanguageExtensions
+Parameters:
+  TopicNamesParam:
+    Type: CommaDelimitedList
+    Default: Success,Failure
+Mappings:
+  Success:
+    Properties:
+      DisplayName: success
+      FifoTopic: "true"
+  Failure:
+    Properties:
+      DisplayName: failure
+      FifoTopic: "false"
+Resources:
+  'Fn::ForEach::Topics':
+    - TopicName
+    - !Split [",", !Ref TopicNamesParam]
+    - 'SnsTopic${TopicName}':
+        Type: 'AWS::SNS::Topic'
+        Properties:
+          TopicName: !Sub '${TopicName}.fifo'
+          'Fn::ForEach::Properties':
+          - PropertyName
+          - [DisplayName, FifoTopic]
+          - '${PropertyName}':
+             'Fn::FindInMap':
+               - Ref: 'TopicName'
+               - Properties
+               - Ref: 'PropertyName'
+      'Fn::ForEach::Subscriptions':
+      - SubName
+      - ['Alpha', 'Beta']
+      - 'SnsSubscription${TopicName}${SubName}':
+          Type: 'AWS::SNS::Subscription'
+          Properties:
+            TopicArn: !Ref 'SnsTopic${TopicName}'
+            Protocol: email
+            Endpoint: !Sub '${SubName}@example.com'
+`
+
+	files, err := parseFile(t, source, "cf.yaml")
+	require.NoError(t, err)
+	file := files[0]
+
+	assert.Len(t, file.Resources, 6)
+
+	tests := []struct {
+		LogicalID string
+		Props     map[string]any
+	}{
+		// SnsTopic
+		{
+			"SnsTopicSuccess",
+			map[string]any{
+				"TopicName":   "Success.fifo",
+				"DisplayName": "success",
+				"FifoTopic":   "true",
+			},
+		},
+		{
+			"SnsTopicFailure",
+			map[string]any{
+				"TopicName":   "Failure.fifo",
+				"DisplayName": "failure",
+				"FifoTopic":   "false",
+			},
+		},
+		// SnsSubscription
+		{
+			"SnsSubscriptionSuccessAlpha",
+			map[string]any{
+				"TopicArn": "SnsTopicSuccess",
+				"Protocol": "email",
+				"Endpoint": "Alpha@example.com",
+			},
+		},
+		{
+			"SnsSubscriptionSuccessBeta",
+			map[string]any{
+				"TopicArn": "SnsTopicSuccess",
+				"Protocol": "email",
+				"Endpoint": "Beta@example.com",
+			},
+		},
+		{
+			"SnsSubscriptionFailureAlpha",
+			map[string]any{
+				"TopicArn": "SnsTopicFailure",
+				"Protocol": "email",
+				"Endpoint": "Alpha@example.com",
+			},
+		},
+		{
+			"SnsSubscriptionFailureBeta",
+			map[string]any{
+				"TopicArn": "SnsTopicFailure",
+				"Protocol": "email",
+				"Endpoint": "Beta@example.com",
+			},
+		},
+	}
+
+	for _, tt := range tests {
+		t.Run(tt.LogicalID, func(t *testing.T) {
+			res, ok := file.Resources[tt.LogicalID]
+			require.True(t, ok)
+			for propName, expected := range tt.Props {
+				prop := res.GetProperty(propName)
+				assert.Equal(t, expected, prop.RawValue())
+			}
+		})
+	}
+}
+
+func Test_ExpandForEachJSON(t *testing.T) {
+	source := `{
+		"AWSTemplateFormatVersion": "2010-09-09",
+		"Transform": "AWS::LanguageExtensions",
+		"Resources": {
+			"Fn::ForEach::Buckets": [
+				"Suffix",
+				["A", "B"],
+				{
+					"S3Bucket${Suffix}": {
+						"Type": "AWS::S3::Bucket",
+						"Properties": {
+							"BucketName": { "Fn::Sub": "bucket-${Suffix}" }
+						}
+					}
+				}
+			]
+		}
+	}`
+
+	files, err := parseFile(t, source, "cf.json")
+	require.NoError(t, err)
+	require.Len(t, files, 1)
+
+	file := files[0]
+	require.Len(t, file.Resources, 2)
+
+	b1, ok := file.Resources["S3BucketA"]
+	require.True(t, ok)
+	assert.Equal(t, "AWS::S3::Bucket", b1.Type())
+	assert.Equal(t, "bucket-A", b1.GetProperty("BucketName").AsString())
+
+	b2, ok := file.Resources["S3BucketB"]
+	require.True(t, ok)
+	assert.Equal(t, "AWS::S3::Bucket", b2.Type())
+	assert.Equal(t, "bucket-B", b2.GetProperty("BucketName").AsString())
+}
diff --git a/pkg/iac/scanners/cloudformation/parser/property.go b/pkg/iac/scanners/cloudformation/parser/property.go
index 9d8a662cdb..42feede738 100644
--- a/pkg/iac/scanners/cloudformation/parser/property.go
+++ b/pkg/iac/scanners/cloudformation/parser/property.go
@@ -33,10 +33,8 @@ type Property struct {
 	parentRange iacTypes.Range
 	logicalId   string
 	unresolved  bool
-}
 
-func (p *Property) Comment() string {
-	return p.comment
+	loopCtx *LoopContext
 }
 
 func (p *Property) setName(name string) {
@@ -52,22 +50,17 @@ func (p *Property) setName(name string) {
 }
 
 func (p *Property) setContext(ctx *FileContext) {
-	p.ctx = ctx
+	p.walk(func(prop *Property) bool {
+		prop.ctx = ctx
+		return true
+	})
+}
 
-	if p.IsMap() {
-		for _, subProp := range p.AsMap() {
-			if subProp == nil {
-				continue
-			}
-			subProp.setContext(ctx)
-		}
-	}
-
-	if p.IsList() {
-		for _, subProp := range p.AsList() {
-			subProp.setContext(ctx)
-		}
-	}
+func (p *Property) setLogicalResource(id string) {
+	p.walk(func(prop *Property) bool {
+		prop.logicalId = id
+		return !prop.isFunction()
+	})
 }
 
 func (p *Property) setFileAndParentRange(target fs.FS, filepath string, parentRange iacTypes.Range) {
@@ -80,18 +73,55 @@ func (p *Property) setFileAndParentRange(target fs.FS, filepath string, parentRa
 			if subProp == nil {
 				continue
 			}
-			subProp.setFileAndParentRange(target, filepath, parentRange)
+			subProp.setFileAndParentRange(target, filepath, p.rng)
 		}
 	case cftypes.List:
 		for _, subProp := range p.AsList() {
 			if subProp == nil {
 				continue
 			}
-			subProp.setFileAndParentRange(target, filepath, parentRange)
+			subProp.setFileAndParentRange(target, filepath, p.rng)
 		}
 	}
 }
 
+func (p *Property) clone() *Property {
+	if p == nil {
+		return nil
+	}
+
+	clone := &Property{
+		Location:    p.Location,
+		ctx:         p.ctx,
+		Type:        p.Type,
+		name:        p.name,
+		comment:     p.comment,
+		rng:         p.rng,
+		parentRange: p.parentRange,
+		logicalId:   p.logicalId,
+		unresolved:  p.unresolved,
+	}
+
+	switch v := p.Value.(type) {
+	case map[string]*Property:
+		m := make(map[string]*Property, len(v))
+		for k, el := range v {
+			m[k] = el.clone()
+		}
+		clone.Value = m
+	case []*Property:
+		slice := make([]*Property, len(v))
+		for i, el := range v {
+			slice[i] = el.clone()
+		}
+		clone.Value = slice
+	default:
+		clone.Value = v
+	}
+
+	return clone
+}
+
 func (p *Property) UnmarshalYAML(node *yaml.Node) error {
 	p.StartLine = node.Line
 	p.EndLine = calculateEndLine(node)
@@ -301,17 +331,10 @@ func (p *Property) GetProperty(path string) *Property {
 }
 
 func (p *Property) deriveResolved(propType cftypes.CfType, propValue any) *Property {
-	return &Property{
-		Location:    p.Location,
-		Value:       propValue,
-		Type:        propType,
-		ctx:         p.ctx,
-		name:        p.name,
-		comment:     p.comment,
-		rng:         p.rng,
-		parentRange: p.parentRange,
-		logicalId:   p.logicalId,
-	}
+	clone := p.clone()
+	clone.Type = propType
+	clone.Value = propValue
+	return clone
 }
 
 func (p *Property) ParentRange() iacTypes.Range {
@@ -363,29 +386,6 @@ func (p *Property) String() string {
 	return r
 }
 
-func (p *Property) setLogicalResource(id string) {
-	p.logicalId = id
-
-	if p.isFunction() {
-		return
-	}
-
-	if p.IsMap() {
-		for _, subProp := range p.AsMap() {
-			if subProp == nil {
-				continue
-			}
-			subProp.setLogicalResource(id)
-		}
-	}
-
-	if p.IsList() {
-		for _, subProp := range p.AsList() {
-			subProp.setLogicalResource(id)
-		}
-	}
-}
-
 func (p *Property) GetJsonBytes(squashList ...bool) []byte {
 	if p.IsNil() {
 		return []byte{}
@@ -458,3 +458,28 @@ func (p *Property) inferType() {
 	}
 	p.Type = typ
 }
+
+func (p *Property) walk(fn func(*Property) bool) {
+	if fn == nil {
+		return
+	}
+
+	if !fn(p) {
+		return
+	}
+
+	switch v := p.Value.(type) {
+	case map[string]*Property:
+		for _, child := range v {
+			if child != nil {
+				child.walk(fn)
+			}
+		}
+	case []*Property:
+		for _, child := range v {
+			if child != nil {
+				child.walk(fn)
+			}
+		}
+	}
+}
diff --git a/pkg/iac/scanners/cloudformation/parser/resource.go b/pkg/iac/scanners/cloudformation/parser/resource.go
index 35b8e6d92e..6b93b90cd6 100644
--- a/pkg/iac/scanners/cloudformation/parser/resource.go
+++ b/pkg/iac/scanners/cloudformation/parser/resource.go
@@ -3,6 +3,7 @@ package parser
 import (
 	"encoding/json/jsontext"
 	"encoding/json/v2"
+	"fmt"
 	"io/fs"
 	"strings"
 
@@ -20,6 +21,8 @@ type Resource struct {
 	rng        iacTypes.Range
 	id         string
 	comment    string
+
+	raw *Property
 }
 
 func (r *Resource) configureResource(id string, target fs.FS, filepath string, ctx *FileContext) {
@@ -46,13 +49,39 @@ func (r *Resource) setFile(target fs.FS, filepath string) {
 
 func (r *Resource) setContext(ctx *FileContext) {
 	r.ctx = ctx
-
-	for _, p := range r.properties {
-		p.setLogicalResource(r.id)
-		p.setContext(ctx)
+	if r.raw != nil {
+		r.raw.setContext(ctx)
+	} else {
+		for _, p := range r.properties {
+			p.setLogicalResource(r.id)
+			p.setContext(ctx)
+		}
 	}
 }
 
+func (r *Resource) clone() *Resource {
+	clone := &Resource{
+		typ:     r.typ,
+		ctx:     r.ctx,
+		rng:     r.rng,
+		id:      r.id,
+		comment: r.comment,
+	}
+
+	if r.properties != nil {
+		clone.properties = make(map[string]*Property, len(r.properties))
+		for k, p := range r.properties {
+			clone.properties[k] = p.clone()
+		}
+	}
+
+	if r.raw != nil {
+		clone.raw = r.raw.clone()
+	}
+
+	return clone
+}
+
 type resourceInner struct {
 	Type       string               `json:"Type" yaml:"Type"`
 	Properties map[string]*Property `json:"Properties" yaml:"Properties"`
@@ -63,22 +92,43 @@ func (r *Resource) UnmarshalYAML(node *yaml.Node) error {
 	r.EndLine = calculateEndLine(node)
 	r.comment = node.LineComment
 
-	var i resourceInner
-	if err := node.Decode(&i); err != nil {
-		return err
+	switch node.Kind {
+	case yaml.MappingNode:
+		var i resourceInner
+		if err := node.Decode(&i); err != nil {
+			return err
+		}
+		r.typ = i.Type
+		r.properties = i.Properties
+		return nil
+	case yaml.SequenceNode:
+		var raw Property
+		if err := node.Decode(&raw); err != nil {
+			return err
+		}
+		r.raw = &raw
+		return nil
+	default:
+		return fmt.Errorf("unsupported YAML node kind: %v", node.Kind)
 	}
-	r.typ = i.Type
-	r.properties = i.Properties
-	return nil
 }
 
 func (r *Resource) UnmarshalJSONFrom(dec *jsontext.Decoder) error {
-	var i resourceInner
-	if err := json.UnmarshalDecode(dec, &i); err != nil {
-		return err
+	switch dec.PeekKind() {
+	case '{':
+		var i resourceInner
+		if err := json.UnmarshalDecode(dec, &i); err != nil {
+			return err
+		}
+		r.typ = i.Type
+		r.properties = i.Properties
+	case '[':
+		var raw Property
+		if err := json.UnmarshalDecode(dec, &raw); err != nil {
+			return err
+		}
+		r.raw = &raw
 	}
-	r.typ = i.Type
-	r.properties = i.Properties
 	return nil
 }