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Also: Zero-Days Affect Financial Markets, SailPoint IPO Signals Market TrendsIn this week's update, ISMG editors discussed the latest "Modern Bank Heists" report and the evolving threats to financial institutions, fallout from the U.S. Department of Government Efficiency's AI-driven government shake-up, and what SailPoint's IPO signals for the cybersecurity vendor market.

China's Salt Typhoon hackers are still actively targeting telecoms worldwide and have breached more U.S. telecommunications providers via unpatched Cisco IOS XE network devices. [...]

Could CISA's Uncertain Future Embolden Nation-State Attackers?As the future of the Cybersecurity and Infrastructure Security Agency becomes increasingly uncertain in the wake of a massive federal overhaul, experts warn that key U.S. infrastructure sectors, including energy, financial services and election infrastructure, are at a heightened risk of cyberattacks and cyberespionage.

Expert: 'Predictions are Cloudy' on How Kennedy Will Handle Cyber, Privacy IssuesThe U.S. Senate confirmed controversial nominee Robert F. Kennedy to lead the U.S. Department of Health and Human Services. But despite many hours of recent scrutiny by lawmaker not much - if anything - is publicly known about Kennedy's stance on health data privacy and cybersecurity.

Telecoms Still Falling to Chinese Nation-State Hacking Group, Researchers WarnA Chinese cyber espionage group tracked as Salt Typhoon and tied to the mass hacking of telecommunications networks in the U.S. and dozens of other countries has been continuing to seek and hack unpatched equipment, including exploiting two long-patched vulnerabilities in Cisco gear.

Threat hunters have shed light on a new campaign targeting the foreign ministry of an unnamed South American nation with bespoke malware capable of granting remote access to infected hosts

Executive Order Gives Musk Team Hiring Authority Across Federal GovernmentPresident Donald Trump's latest executive order grants hiring authority across the federal government to his billionaire adviser Elon Musk's task force, raising concerns that the move could undermine federal cybersecurity efforts, weaken U.S. cyber defenses and leave key security positions unfilled.

US, UK and Australia Target Zservers for Supporting LockBit, Other Cybercrime GroupsA Russian bulletproof hosting service used by cybercriminals including the LockBit ransomware group has been sanctioned by Australian, British and American agencies. Zservers has been advertised in criminal forums as an aid to avoid law enforcement investigations and takedowns.

'Near-global' initial access campaign active since 2021 An initial-access subgroup of Russia's Sandworm last year wriggled its way into networks within the US, UK, Canada and Australia, stealing credentials and data from "a limited number of organizations," according to Microsoft.…

Numerous systemic vulnerabilities could scuttle $5.4T industry Despite the escalating cyber threats targeting America's maritime transportation system, the US Coast Guard still lacks a comprehensive strategy to secure this critical infrastructure - nor does it have reliable access to data on cybersecurity vulnerabilities and past attacks, the Government Accountability Office (GAO) warns.…

Experts Testify Budget Cuts Could Hurt Security Investments, Disrupt Supply ChainsPresident Donald Trump's federal funding freeze threatens to significantly weaken U.S. maritime cybersecurity efforts as China expands its control over global ports, experts warned in congressional testimony. Attacks on ports could disrupt supply chains and destabilize global trade.

Europe Must View AI With 'Optimism Rather Than Trepidation,' He Tells Paris CrowdEurope must view developments in artificial intelligence with optimism, rather than trepidation, U.S. Vice President JD Vance told EU leaders during the AI Action Summit. He said the EU's tendency to overregulate technology is costing American businesses billions of dollars.

The U.S. Justice Department announced the names of two Phobos ransomware affiliates arrested yesterday in Thailand, charging them on 11 counts due to their involvement in more than a thousand cyberattacks. [...]

​The United States, Australia, and the United Kingdom have sanctioned Zservers, a Russia-based bulletproof hosting (BPH) services provider, for supplying essential attack infrastructure for the LockBit ransomware gang. [...]

Today, an Alabama man pleaded guilty to hijacking the U.S. Securities and Exchange Commission (SEC) account on X in a January 2024 SIM swapping attack. [...]

Lee Enterprises, one of the largest newspaper groups in the United States, says a cyberattack that hit its systems caused an outage last week and impacted its operations. [...]

Order requires destruction of departmental data accessed by Musky men Trump administration policies that allowed Elon Musk's Department of Government Efficiency to access systems and data at the Bureau of the Fiscal Service (BFS) have left the org “more vulnerable to hacking” according to Paul A. Engelmayer, Judge of the United States District Court for the Southern District of New York.…