As new threats emerge and defensive strategies evolve, the landscape of data protection is undergoing significant changes. With February 1 marking Change Your Password Day, it’s a timely reminder of the importance of strong password habits to safeguard digital information.
While conventional wisdom has long emphasized regularly updating passwords, cybersecurity experts, including those at the National Institute of Standards and Technology (NIST), have re-evaluated this approach. Current recommendations focus on creating complex yet easy-to-remember passphrases and integrating multi-factor authentication (MFA) as an additional layer of security.
Microsoft has long envisioned a world where passwords are no longer the primary method of authentication. Instead, the company advocates for the use of passkeys. While this vision has been clear for some time, the specifics of how this transition would occur have only recently been clarified.
In a detailed update from Microsoft’s Identity and Access Management team, Sangeeta Ranjit, Group Product Manager, and Scott Bingham, Principal Product Manager, outlined the anticipated process. They highlighted that cybercriminals are increasingly aware of the declining relevance of passwords and are intensifying password-focused attacks while they still can.
Microsoft has confirmed that passwords will eventually be phased out for authentication. Although over a billion users are expected to adopt passkeys soon, a significant number may continue using both passkeys and traditional passwords simultaneously. This dual usage introduces risks, as both methods can be exploited, potentially leading to privacy breaches.
According to Bingham and Ranjit, the long-term focus must be on phishing-resistant authentication techniques and the complete elimination of passwords within organizations. Simplifying password management while enhancing security remains a critical challenge.
While passwords still play a role in authentication, they are no longer sufficient as the sole defense against increasingly sophisticated cyber threats. The shift toward passwordless authentication requires the development of new technologies that provide robust security without complicating the user experience.
One such solution is compromised credential monitoring, which detects when sensitive information, such as passwords, is exposed on the dark web. This technology promptly notifies administrators or affected users, enabling them to take immediate corrective actions, such as changing compromised credentials.
As the era of passwords draws to a close, organizations and individuals must embrace more secure and user-friendly authentication methods. By adopting advanced technologies and staying informed about the latest developments, we can better protect our digital information in an ever-evolving threat landscape.
On January 14, 2025, it was reported that the configuration data of over 15,000 Fortinet FortiGate firewalls was leaked on the dark web. The hacker group, identified as Belsen, shared this data for free on its newly created TOR website. The leaked information includes full firewall configurations, plaintext VPN credentials organized by IP address and country, serial numbers, management certificates, and other sensitive data. This breach poses a significant security risk to affected organizations, as it enables attackers to compromise internal networks with ease.
According to cybersecurity analysts, the Belsen Group exploited a zero-day vulnerability, identified as CVE-2022-40684, to obtain the leaked data. This vulnerability, published in 2022, allowed attackers to bypass administrative authentication through specially crafted HTTP/HTTPS requests. By leveraging this flaw, the attackers exfiltrated configuration files containing sensitive details such as passwords, firewall rules, and advanced settings. These files, though obtained in 2022, remained undisclosed until January 2025, significantly increasing the risk exposure for affected organizations.
In response to this ongoing threat, Fortinet released patches for CVE-2022-40684 and announced a new critical authentication bypass vulnerability, CVE-2024-55591, on the same day the leak was disclosed. This new vulnerability is being actively exploited in campaigns targeting FortiGate firewalls, particularly those with public-facing administrative interfaces. Devices running outdated FortiOS versions are especially at risk.
The leaked configuration files provide a comprehensive map of victim networks, including firewall rules and administrator credentials. Threat actors can exploit this information to:
Organizations affected by this breach must take immediate action to mitigate risks. This includes:
Cybersecurity expert Kevin Beaumont has announced plans to release an IP list from the leak to help FortiGate administrators determine if their devices were affected. Meanwhile, security firms like CloudSEK and Arctic Wolf have emphasized the importance of prioritizing updates and vigilance against future exploitation campaigns.
Fortinet devices' history of vulnerabilities has made them frequent targets for cybercriminals and nation-state actors. Addressing these security gaps is crucial to preventing further breaches and protecting sensitive organizational data.
European banks are being compelled to enhance their cybersecurity systems to comply with stringent regulations aimed at safeguarding critical infrastructure against cyber threats. The rise of digital tools in the financial sector has brought with it an urgent need for robust data protection systems and comprehensive cybersecurity measures.
Cyber risks remain a persistent challenge in the banking industry, with no signs of abatement. According to industry projections by Cybersecurity Ventures, global cybercrime costs are expected to escalate to a staggering $10.5 trillion annually by 2025. While these figures highlight the gravity of the issue, financial institutions have an opportunity to protect themselves from financial and reputational harm through the strategic implementation of dependable cybersecurity frameworks.
On January 17, after a two-year implementation period, the Digital Operational Resilience Act (DORA) was signed into law. This legislation mandates financial services firms and their technology providers to enhance their resilience against cyberattacks and operational disruptions.
Under the new rules, financial institutions must:
The act affects over 22,000 institutions, including banks, digital banks, and cryptocurrency service providers. Non-compliance can result in fines of up to 2% of annual global revenue, with managers personally liable for breaches, facing penalties of up to €1 million.
Compliance with European cybersecurity regulations remains complex. Harvey Jang, Chief Privacy Officer and Deputy General Counsel at Cisco, notes that the financial sector operates under multiple overlapping regulations. These include the Network and Information Systems Directive (NIS), which focuses on critical infrastructure security, and the General Data Protection Regulation (GDPR), which standardizes data protection across the EU.
Each regulation introduces unique requirements, and national implementation adds further fragmentation. For instance:
DORA complements the updated NIS2 Directive, introduced in 2023 to address evolving cyber threats. Together, these regulations aim to bolster resilience across EU member states, ensuring financial institutions are prepared for the complexities of modern cyber threats.
However, a survey by Orange Cyberdefense revealed that 43% of UK financial institutions are still not fully compliant with DORA. Despite the UK’s departure from the EU, DORA applies to any financial institution operating within the EU, including those without an EU office.
Recent incidents, such as the 2024 Microsoft/CrowdStrike outage, have underscored the importance of proactive cybersecurity measures. These events have prompted organizations to allocate larger budgets to risk management teams and adopt a crisis-preparedness mindset.
"Forward-thinking organizations understand that it’s better to be prepared for crises when they occur, rather than if they occur," states the Boyle report. This shift in mindset has empowered companies to focus on readiness in an increasingly complex threat landscape.
Companies like Salt, a Belfast-based cybersecurity firm, are addressing the growing need for high-security solutions. Salt serves industries such as finance, defense, and law enforcement in over 50 countries, including clients like BAE Systems and Mishcon de Reya.
Salt’s approach prioritizes customized, high-security communication systems that offer clients absolute control and exclusivity. “Our high-security clients demand systems that are independent and inaccessible once deployed — even to us,” explains Boyle. This assurance gives clients confidence and peace of mind in today’s complex threat environment.
As the financial sector navigates an increasingly digital and interconnected world, the importance of robust and proactive cybersecurity strategies cannot be overstated. Compliance with evolving regulations like DORA and NIS2 is critical to safeguarding financial institutions and maintaining trust in the industry.
A recent report by OPS Group, a global aviation safety network, has highlighted a sharp rise in GPS interference across several global conflict zones, including India’s borders with Pakistan and Myanmar. This interference poses significant risks to passenger aircraft flying over these regions, raising serious safety concerns.
Causes of GPS Interference
According to the September report, the increase in GPS interference near borders stems from enhanced security measures and the widespread use of drones for illicit activities. These factors have contributed to the rise of “spoofing,” a cyberattack technique where false GPS signals are transmitted to deceive navigation systems. By manipulating GPS signals, spoofing can create false positions, speeds, or altitudes, leading to impaired navigation accuracy and potential aviation incidents.
To counter these threats, technologies like the Inertial Reference System (IRS) provide an alternative to GPS by calculating positions independently. The IRS offers similar accuracy and is unaffected by signal disruptions, making it a valuable backup for navigation systems in high-risk zones.
India has implemented GPS jamming technologies along its border with Pakistan to enhance security and combat drone-based smuggling operations. These drones, often used to transport narcotics, weapons, and counterfeit currency, have become a growing concern. Reports indicate that GPS interference in the region has reached levels of 10%, significantly hindering illegal drone activity. The Border Security Force (BSF) has recovered a range of contraband, including narcotics and small arms, thanks to these efforts.
Drone activity has surged in recent years, particularly along the India-Pakistan border. In Punjab alone, sightings increased from 48 in 2020 to 267 in 2022, accounting for over 83% of reported drone activities along this border. The eastern border has also seen a rise in drone use for smuggling gold, exotic wildlife, and other contraband from Myanmar and Bangladesh. While effective against drones, GPS jamming can inadvertently impact civilian navigation systems, affecting vehicle and aircraft operations in the vicinity.
Global Aviation Safety Concerns
The issue of GPS interference extends beyond border security and affects global aviation. During this year’s 14th Air Navigation Conference held by the International Civil Aviation Organization (ICAO) in Montreal, delegates addressed the growing risks posed by interference with the Global Navigation Satellite System (GNSS). Such disruptions can compromise the accuracy of aircraft positioning and navigation systems, raising safety concerns.
To mitigate these risks, the conference proposed measures such as enhanced communication between stakeholders, improved information-sharing mechanisms, and the establishment of a global contingency plan for GNSS signal outages. These initiatives aim to reduce the impact of GPS interference on aviation safety and ensure continuity in navigation services.
The rising prevalence of GPS interference underscores the need for robust countermeasures and international collaboration. While advancements in jamming technologies and alternative navigation systems address immediate threats, a long-term strategy focused on securing navigation infrastructure and mitigating interference is essential for safeguarding both national security and global aviation operations.
According to VulnCheck, a critical vulnerability identified as CVE-2024-12856 has been discovered in Four-Faith industrial routers, specifically affecting the F3x24 and F3x36 models, as well as users’ machines. Evidence suggests active exploitation of this vulnerability in the wild, raising significant security concerns for industrial and enterprise users. The flaw resides in the router’s system time adjustment function, where a post-authentication vulnerability allows attackers to execute remote commands on compromised devices.
Technical Details of the Vulnerability
The routers, running firmware version 2.0, are susceptible to an authenticated remote command execution flaw via the HTTP endpoint apply.cgi. Attackers can manipulate the system time parameter using POST requests, enabling arbitrary command execution. Additionally, the firmware is configured with default credentials that, if left unchanged, can escalate the vulnerability to allow unauthenticated remote OS command injection.
Data provided by VulnCheck indicates that approximately 15,000 internet-facing routers may be affected by this issue. Exploitation campaigns have been observed since at least November 2024, with attackers altering system parameters remotely. The attacks appear to originate from multiple IP addresses and utilize Mirai-like payloads to compromise the devices. VulnCheck notes that some payloads share similarities with those used to exploit a prior vulnerability (CVE-2019-12168), although the underlying components differ.
Security researchers have identified attack patterns involving two primary IP addresses, including 178.215.238.91, as sources of active exploitation campaigns. User-Agent strings from these attacks match earlier campaigns documented in November 2024, with new payload variations targeting the identified flaw. While the attacks remain low-scale, they demonstrate a high level of persistence.
Censys data corroborates VulnCheck’s findings, suggesting that the vulnerability has been exploited consistently since its initial observation. Despite this, an official from Bains, speaking to The Hacker News, emphasized that the attacks are not widespread and appear to involve a small number of attackers using spamming techniques at a low frequency.
Mitigation Recommendations
As of now, there is no confirmation regarding the availability of security patches for the affected firmware. VulnCheck disclosed the vulnerability to Four-Faith on December 20, 2024, and awaits a response. In the interim, researchers strongly advise users to take the following measures to mitigate potential risks:
Impact and Implications
By exploiting this vulnerability, attackers can gain full control over affected devices, including executing reverse shell commands to maintain persistent access while concealing their identities. Such control poses a severe threat to organizations reliant on Four-Faith routers for critical operations.
The absence of immediate patches has prompted security researchers to highlight the importance of adopting proactive measures. Organizations are advised to strengthen their defenses against suspicious activity while awaiting updates from Four-Faith. VulnCheck, adhering to responsible disclosure policies, has withheld additional technical details and information about patches until a response from the manufacturer is received.
This incident underscores the critical need for robust firmware security practices, including eliminating default credentials and ensuring timely patch management, to protect against emerging threats in industrial environments.
Botnet attacks exploit a command-and-control model, enabling hackers to control infected devices, often referred to as "zombie bots," remotely. The strength of such an attack depends on the number of devices compromised by the hacker’s malware, making botnets a potent tool for large-scale cyberattacks.
Any device connected to the internet is at risk of becoming part of a botnet, especially if it lacks regular antivirus updates. According to CSO Online, botnets represent one of the most significant and rapidly growing cybersecurity threats. In the first half of 2022 alone, researchers detected 67 million botnet connections originating from over 600,000 unique IP addresses.
Botnet attacks typically involve compromising everyday devices like smartphones, smart thermostats, and webcams, giving attackers access to thousands of devices without the owners' knowledge. Once compromised, these devices can be used to launch spam campaigns, steal sensitive data, or execute Distributed Denial of Service (DDoS) attacks. The infamous Mirai botnet attack in October 2016 demonstrated the devastating potential of botnets, temporarily taking down major websites such as Twitter, CNN, Reddit, and Netflix by exploiting vulnerabilities in IoT devices.
Botnets are created through a structured process that typically involves five key steps:
These steps allow cybercriminals to exploit botnets for coordinated and anonymous attacks, making them a significant threat to individuals and organizations alike.
Recognizing a compromised device is crucial. Look out for the following warning signs:
If you suspect an infection, run a malware scan immediately and consider resetting the device to factory settings for a fresh start.
Safeguarding against botnets doesn’t require extensive technical expertise. Here are practical measures to enhance your cybersecurity:
Organizations can mitigate botnet risks by deploying advanced endpoint protection, strengthening corporate cybersecurity systems, and staying vigilant against evolving threats. Implementing robust security measures ensures that businesses remain resilient against increasingly sophisticated botnet-driven cyberattacks.
Botnet attacks pose a serious threat to both individual and organizational cybersecurity. By adopting proactive and practical measures, users can significantly reduce the risk of becoming victims and contribute to a safer digital environment.
An Irish national utility service provider, Electric Ireland, is investigating a significant data breach involving customer information. This breach, first reported last year, has led to arrests and an ongoing investigation by the Garda National Cyber Crime Bureau (GNCCB) and the Garda National Economic Crime Bureau (GNECB). The incident has raised concerns about the misuse of personal and financial data and potential risks for affected customers.
Electric Ireland disclosed that an employee of a company working on its behalf may have inappropriately accessed data from approximately 8,000 residential customer accounts. The compromised information includes personal and financial details, potentially exposing customers to fraud. While the company has not released the names of affected customers, it is actively identifying and contacting individuals who may be at risk. The breach has left many customers concerned about identity theft and financial security.
Electric Ireland has apologized for the breach and is providing guidance to impacted customers. Those not contacted by the company are advised to remain cautious and avoid taking immediate action until they receive official communication. In addition, Electric Ireland has encouraged customers to report any fraudulent activity related to their accounts and to consult their banks for potential security measures.
The Garda National Cyber Crime Bureau and GNECB are at the forefront of the investigation. The GNCCB specializes in analyzing digital evidence and has collaborated with international agencies like Europol, Interpol, and the FBI in similar cases. During the probe, investigators discovered evidence on the phone of a Nigerian national allegedly linked to the breach. Further scrutiny led to a focus on his girlfriend and her associates, indicating a wider network of individuals potentially involved in the unauthorized access of data.
The GNECB, which handles financial crime cases, is assessing the fraud's extent and coordinating with Electric Ireland to mitigate the impact on customers. Despite limited details from the authorities, the case highlights the growing challenges of safeguarding sensitive data in an increasingly digital landscape.
In addition to addressing the data breach, Electric Ireland is dealing with separate issues of overcharging due to incorrect tariff rates and smart meter data errors. The company has issued apologies for these errors and is offering credit notes to affected customers. Regulatory authorities are reviewing the matter to ensure compliance and prevent similar occurrences in the future.
Electric Ireland remains committed to transparency and is collaborating with Garda Síochána to resolve the breach. Customers are urged to stay vigilant, monitor their financial accounts, and report any suspicious activities to the company and their banks.