From the CloudCast Studios at Skyhigh Security, I’m your host Scott Schlee and these are your Cybersecurity Headlines for the week of Wednesday, November 20, 2024.

Headlines this week:

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• Trump’s Second Term Expected to Bring Big Changes to U.S. Cyber Agency
  
• The DHS issues recommendations for AI in critical infrastructure.
  
• New York Department of Financial Services Issues AI Cybersecurity Guidance
  
• The EPA Reports Cybersecurity Concerns Related to Drinking Water Systems
  
• Chinese Hackers Target Tibetan Websites in Malware Attack
  
• Bitfinex Hacker Sentenced to 5 Years for $10 Billion Bitcoin Heist
  
• U.S. Introduces New Data Rules to Combat Cybercrime
  
• Bitdefender Releases Free Decryptor for ShrinkLocker Ransomware
  
• Microsoft Releases November 2024 Security Updates
  
• ESET Research Analyzes RedLine Stealer’s Backend Modules
  

Thank you for listening to Skyhigh CloudCast. If you’ve enjoyed this episode, be sure to subscribe on your favorite platform so you never miss an update. If you like the show, please leave us a review. It helps others find the podcast. For more information about Skyhigh Security or CloudCast, please visit skyhighsecurity.com.

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CloudCast is hosted by Skyhigh Security’s very own Digital Experience Manager, Scott Schlee. Scott’s engaging demeanor and wit, backed by over 20 years in digital media production and web development, has led to successful collaborations with top-tier brands. His experience includes hosting and producing a wide range of podcasts and videos. Scott has been recognized for his outstanding work, including an award-winning digital short and a Webby Awards nomination for Viral Marketing (Branded). Beyond his professional achievements, Scott’s personal journey as a decade-long pancreatic cancer survivor has led him to share his story with the U.S. Congress and other organizations as an advocate for increased cancer research funding.

Transcript

Trump’s Second Term Expected to Bring Big Changes to U.S. Cyber Agency, The DHS issues recommendations for AI in critical infrastructure, New York Department of Financial Services Issues AI Cybersecurity Guidance, The EPA Reports Cybersecurity Concerns Related to Drinking Water Systems, Chinese Hackers Target Tibetan Websites in Malware Attack, Bitfinex Hacker Sentenced to 5 Years for $10 Billion Bitcoin Heist, U.S. Introduces New Data Rules to Combat Cybercrime, Bitdefender Releases Free Decryptor for ShrinkLocker Ransomware, Microsoft Releases November 2024 Security Updates, and ESET Research Analyzes RedLine Stealer’s Backend Modules.

From the Skyhigh Studios at Skyhigh Security, I’m Scott Schlee, it’s Wednesday, November 20th, and these are your cybersecurity headlines.

President-elect Donald Trump’s upcoming administration is anticipated to significantly alter the focus and structure of the Cybersecurity and Infrastructure Security Agency. Critics argue that CISA’s mission has expanded beyond its core responsibilities, prompting discussions about refocusing on federal and critical infrastructure protection. The appointment of Elon Musk and Vivek Ramaswamy to lead a government restructuring initiative may impact CISA’s funding and operations. Despite potential changes, experts believe the agency’s dissolution is unlikely due to bipartisan support for its mission.

The Department of Homeland Security has issued new recommendations for integrating artificial intelligence into critical infrastructure sectors to enhance security and operational efficiency. These guidelines aim to balance innovation with risk management, focusing on protecting against AI-driven threats while leveraging its capabilities for improved threat detection and response. Key recommendations include establishing robust AI governance frameworks, conducting regular risk assessments, and implementing transparency measures to ensure trust in AI applications. The DHS emphasizes collaboration between public and private sectors to secure critical systems and safeguard national resilience in an increasingly AI-driven world.

On October 16th, 2024, the New York State Department of Financial Services released new guidance for financial institutions to mitigate cybersecurity risks associated with AI. This guidance complements existing cybersecurity regulations and emphasizes the need for updated risk assessments, incident response plans, and monitoring of AI-related threats. Specific actions include annual risk assessments, implementation of multi-factor authentication by November 2025, and robust management of third-party service providers. Financial institutions are advised to align their cybersecurity programs with this guidance to ensure compliance and effectively manage AI-related risks.

The U.S. Environmental Protection Agency’s Office of Inspector General released a report highlighting significant cybersecurity vulnerabilities in the nation’s drinking water systems. The assessment, which examined 1,062 systems serving over 193 million people, identified that 97 systems, accounting for approximately 26.6 million users, had critical or high-risk vulnerabilities. Additionally, 211 systems serving over 82.7 million people were found to have medium and low-risk issues, such as externally visible open portals. These vulnerabilities could potentially be exploited by malicious actors to disrupt services or cause physical damage to water infrastructure. The report also noted that the EPA lacks a dedicated cybersecurity incident reporting system for water and wastewater systems, relying instead on the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency for such notifications.

The cybersecurity firm Insikt Group reports that a Chinese state-sponsored hacking group, TAG-112, compromised Tibetan community websites to distribute malware. Visitors to these sites were prompted to download a malicious file disguised as a security certificate, leading to the installation of espionage tools. This tactic mirrors previous methods used by other Chinese advanced persistent threat groups. The Chinese Foreign Ministry has denied involvement in the attacks.

Ilya Lichtenstein, involved in the 2016 Bitfinex cryptocurrency exchange hack, has been sentenced to five years in prison for stealing and laundering bitcoin valued at $10 billion. His wife, Heather Morgan, was also implicated in the scheme. This case highlights the ongoing challenges in securing digital assets and the legal repercussions of cybercrimes in the cryptocurrency sector. The sentencing serves as a deterrent to potential cybercriminals targeting financial platforms.

The U.S. government has introduced new regulations aimed at curbing cybercrime, which reached a financial impact of $12.5 billion last year. The rules include a ban on transferring geolocation data of over 1,000 U.S. devices to countries of concern, such as China, Russia, Iran, Venezuela, Cuba, and North Korea. These measures target data brokers who might sell sensitive information to foreign adversaries. The initiative underscores the government’s commitment to protecting national security and personal privacy in the digital age.

Romanian cybersecurity company Bitdefender has released a free decryptor tool to assist victims of the ShrinkLocker ransomware. ShrinkLocker, identified earlier this year, exploits Microsoft’s BitLocker utility to encrypt files in extortion attacks targeting entities in Mexico, Indonesia, and Jordan. The decryptor enables affected users to recover their data without paying the ransom, highlighting the importance of collaborative efforts in combating ransomware threats.

On November 12, 2024, Microsoft issued security updates addressing vulnerabilities across multiple products. These updates aim to prevent cyber threat actors from exploiting these vulnerabilities to gain control over affected systems. Users and administrators are encouraged to review the Microsoft Security Update Guide for November and apply the necessary updates to maintain system security.

ESET researchers have conducted an in-depth analysis of the backend modules of RedLine Stealer, a notorious infostealer malware. Following international authorities’ takedown of RedLine Stealer, ESET’s research provides insights into the malware’s operations and infrastructure. This analysis aids cybersecurity professionals in understanding and mitigating threats posed by similar malware. The findings underscore the ongoing need for vigilance and advanced threat detection in the cybersecurity landscape.

And those are your headlines for the week. Thank you again for listening to Skyhigh CloudCast. If you’ve enjoyed this episode, be sure to subscribe on your favorite platform so you never miss an update. If you liked the show, please leave us a review. It helps others find the podcast. For more information about Skyhigh Security or CloudCast, please visit SkyhighSecurity.com.

Please Note: All transcripts are generated using speech recognition software and human transcription, and may contain errors. Please check the corresponding audio before quoting in print.

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