Israeli cybersecurity companies raised $4 billion in 2024, more than doubling the previous year’s total, according to venture capital firm YL Ventures. The sector, a key driver of Israel’s economy, saw strong investment growth despite geopolitical challenges. Cloud security and AI played a significant role in attracting funding, with early-stage startups securing $400 million across 50 seed rounds.
Investment in later-stage cybersecurity firms also surged, with growth-stage funding rounds raising $2.9 billion—an increase of 300% from 2023. The expansion reflects growing global confidence in Israel’s cybersecurity industry, which is increasingly recognised as a leader in the field. YL Ventures highlighted the role of Israeli military intelligence units in fostering a culture of innovation and entrepreneurship that strengthens the sector.
The ongoing war following Hamas’s October 2023 attack has added pressure on tech founders, many of whom have been called into military service. Industry leaders have had to navigate operational challenges while maintaining business continuity. Looking ahead to 2025, venture capital firms anticipate continued investment growth, particularly in early and mid-stage funding rounds, as cybersecurity remains a global priority.
Recent reports reveal that Chinese hackers have compromised a broader range of US telecommunications companies than previously known. In addition to earlier breaches involving AT&T and Verizon, the cyberattacks have now been found to affect Charter Communications, Consolidated Communications, Windstream, Lumen Technologies, and T-Mobile. The hacking group, identified as Salt Typhoon and linked to Chinese intelligence, exploited vulnerabilities in network devices from security vendors such as Fortinet and Cisco Systems.
The Wall Street Journal reports that US National Security Adviser Jake Sullivan informed telecommunications and technology executives in a confidential meeting in late 2023 that these hackers had developed the capability to disrupt critical US infrastructure, including ports and power grids. While companies like AT&T and Verizon have stated that their networks are now secure and that they are collaborating with law enforcement, concerns persist about the extent and impact of these breaches.
China has denied involvement in these cyber activities, accusing the United States of disseminating disinformation. Nonetheless, the revelations have intensified discussions about national security and the resilience of US critical infrastructure against sophisticated cyber threats. The situation underscores the ongoing challenges in safeguarding sensitive communications and infrastructure from state-sponsored cyber espionage.
Healthcare organizations in the US may face stricter cybersecurity rules to address the growing threat of data breaches. Proposals introduced by the Biden administration seek to prevent sensitive patient information from being leaked through hacking or ransomware attacks. Measures include mandatory encryption and compliance checks to enhance network security.
Data breaches have exposed the healthcare information of over 167 million people in 2023 alone, according to Anne Neuberger, Deputy National Security Advisor for Cyber and Emerging Technology. The updated standards, introduced by the Office for Civil Rights under the Health Insurance Portability and Accountability Act (HIPAA), are estimated to cost $9 billion in the first year and $6 billion annually in subsequent years.
Officials highlighted the rising danger of healthcare cyberattacks, with hacking and ransomware incidents increasing by 89% and 102% respectively since 2019. Hospitals often face operational disruption, while leaked data can lead to blackmail. A 60-day public comment period will allow stakeholders to provide input before finalising the rules.
The new standards are designed to safeguard healthcare networks and protect Americans’ private information, including mental health records. Strengthened cybersecurity is expected to reduce vulnerabilities and ensure the safety of critical healthcare systems.
The Diriyah Company has partnered with the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP) to enhance the city’s digital security and align with the goals of Saudi Vision 2030. That collaboration aims to protect Diriyah’s digital infrastructure as it transforms into a cultural and heritage hub.
As part of the agreement, Diriyah Co. will join BugBounty, the Middle East’s first cybersecurity research platform, to identify and address software vulnerabilities. Additionally, the partnership includes initiatives such as conferences, workshops, and public awareness campaigns to foster a culture of cybersecurity.
To further strengthen capabilities, SAFCSP will provide Diriyah Co. access to its professional database for recruiting cybersecurity specialists. It will also offer specialised training programs to employees and identify top-performing students for advanced training opportunities.
The partnership supports innovation and collaboration across government and private sectors by integrating advanced cybersecurity measures and prioritising talent development. These efforts aim to create a secure and sustainable digital future for Diriyah, empowering the next generation with advanced technology and driving cultural, economic, and technological growth in line with Saudi Vision 2030.
OpenAI’s ChatGPT search tool is under scrutiny after a Guardian investigation revealed vulnerabilities to manipulation and malicious content. Hidden text on websites can alter AI responses, raising concerns over the tool’s reliability. The search feature, currently available to premium users, could misrepresent products or services by summarising planted positive content, even when negative reviews exist.
Cybersecurity researcher Jacob Larsen warned that the AI system in its current form might enable deceptive practices. Tests revealed how hidden prompts on webpages influence ChatGPT to deliver biased reviews. The same mechanism could be exploited to distribute malicious code, as highlighted in a recent cryptocurrency scam where the tool inadvertently shared credential-stealing instructions.
Experts emphasised that while combining search with AI models like ChatGPT offers potential, it also increases risks. Karsten Nohl, a scientist at SR Labs, likened such AI tools to a ‘co-pilot’ requiring oversight. Misjudgments by the technology could amplify risks, particularly as it lacks the ability to critically evaluate sources.
OpenAI acknowledges the possibility of errors, cautioning users to verify information. However, broader implications, such as how these vulnerabilities could impact website practices, remain unclear. Hidden text, while traditionally penalised by search engines like Google, may find new life in manipulating AI-based tools, posing challenges for OpenAI in securing the system.
The United Nations General Assembly has adopted a landmark treaty to combat cybercrime, marking the culmination of five years of negotiations. The UN Convention against Cybercrime is set to become the first global instrument for global efforts to combat cybercrime and enhance international cooperation and technical assistance.
The UN Office on Drugs and Crime (UNODC), which acted as secretariat throughout the negotiations, celebrated the treaty as a victory for global cooperation.
‘Adopting this landmark convention is a major victory for multilateralism, marking the first international anti-crime treaty in 20 years. It is a crucial step forward in our efforts to address crimes like online child sexual abuse, sophisticated online scams and money laundering,’ said UNODC Executive Director Ghada Waly.
The General Assembly adopted the resolution by consensus, underscoring widespread support. Negotiations included contributions from civil society, academia, and the private sector, ensuring the treaty reflects diverse perspectives. However, many non-state actors raisedconcerns about the latest draft.
The treaty will open for signature during a formal ceremony in Vietnam in 2025 and will enter into force 90 days after being ratified by at least 40 member states. In addition, UNODC will continue its role as the secretariat for the Ad Hoc Committee, which is tasked with drafting a supplementary protocol to the Convention and supporting the future Conference of States Parties.
For more details about the Convention and negotiations process, please follow the dedicated page.
A recent cybersecurity breach involving US healthcare platform ConnectOnCall has compromised sensitive information belonging to more than 910,000 patients. The telehealth service, owned by Phreesia, experienced unauthorised access between February and May 2024, exposing names, phone numbers, medical details, and in some cases, Social Security numbers. Phreesia promptly took action after discovering the breach, enlisting cybersecurity experts and notifying federal authorities.
ConnectOnCall facilitates after-hours communication for healthcare providers, making the data theft particularly alarming due to the permanent and sensitive nature of health records. Cybercriminals may use this information for identity theft, fraudulent insurance claims, and targeted phishing attacks. Phreesia has since taken the service offline, offering identity and credit monitoring to affected patients, while working to implement more robust security measures.
The breach highlights the growing threat posed by cyberattacks on US healthcare platforms, where data is not only invaluable but also irreplaceable. Experts urge vigilance, such as monitoring accounts, using strong passwords, and employing identity theft protection. With incidents like this on the rise, calls are growing for stricter regulations to safeguard patient information and prevent similar breaches in the future.
A crafty new scam is ensnaring would-be crypto thieves by baiting them with fake wallet seed phrases. Cybersecurity experts at Kaspersky have revealed how scammers post these phrases in YouTube comments, claiming the wallets hold significant funds. The wallets, however, are traps designed to exploit anyone attempting to steal the assets.
One wallet discovered by Kaspersky analyst Mikhail Sytnik reportedly held $8,000 in USDT on the Tron network. A thief must send Tron (TRX) tokens to move the funds to cover transaction fees. Unbeknownst to them, the wallet is a multi-signature account, meaning the TRX sent for fees is instantly redirected to another wallet controlled by the scammers.
Sytnik described the scammers as “digital Robin Hoods” for targeting other opportunists. He advised people never to try accessing others’ wallets, even if given a seed phrase, and to remain cautious of strangers’ claims about cryptocurrency online.
This isn’t the first time fraudsters have exploited greed in the crypto space. In July, Kaspersky exposed a similar scam on Telegram, where users were tricked into downloading malware disguised as legitimate crypto tools, potentially compromising their devices and funds.
The Philippine Securities and Exchange Commission (SEC) has unveiled a draft of its ‘SEC Rules on Crypto-Assets Service Providers’ to regulate the country’s booming crypto market. The new proposal aims to establish clear guidelines for service providers involved in activities like trading, custody, and public offerings of crypto-assets, which are defined as digital representations of value using distributed ledger technology.
As the Philippines continues to attract a growing number of cryptocurrency users, especially among its tech-savvy population, the SEC’s rules focus on mitigating risks like fraud and market manipulation while promoting innovation. Under the draft rules, service providers must register with the SEC and comply with the standards outlined in the Financial Products and Services Consumer Protection Act. They will also face strict capital requirements and must submit detailed disclosure documents before marketing crypto-assets to the public.
The proposal also places heavy emphasis on cybersecurity and anti-money laundering measures. Service providers will need to align their systems with the National Cybersecurity Plan and undergo regular audits. Additionally, practices to prevent insider trading and market manipulation will be closely monitored.
The public has until 18 January 2025, to provide feedback on the draft rules, marking an important step in shaping the future of the crypto industry in the Philippines.
Manila Central University (MCU) has partnered with Fortinet, a global leader in cybersecurity, through its Academic Partner Program to address the growing talent shortage in the Philippines. That collaboration aims to equip students with essential skills to meet industry demands by integrating Fortinet’s Network Security Expert (NSE) training and certification program into the university’s curriculum, either as coursework or standalone offerings.
Faculty members will receive advanced training, and students will benefit from guest lectures, practical exercises, and hands-on learning in areas like network security, malware analysis, and defence strategies. Additionally, the partnership includes establishing a state-of-the-art Cyber Innovation Lab to provide immersive learning experiences.
The initiative aligns with findings from Fortinet’s ‘Cybersecurity Skills Gap 2024 Global Research Report,’ which revealed that 94% of organisations in the Philippines experienced security breaches in 2023, with 77% partly attributed to a lack of cybersecurity skills. MCU joins nine other institutions, including Mapúa University and Mindanao State University-Sulu, in Fortinet’s nationwide effort to strengthen cybersecurity education.
The partnership also represents a significant step toward bridging the cybersecurity skills gap in the Philippines. By combining Fortinet’s expertise with MCU’s academic foundation, the program offers students industry-recognised certifications and practical knowledge needed to excel as cybersecurity professionals.
Why does it matter?
The initiative addresses immediate challenges highlighted in the report and strengthens the country’s capacity to defend against evolving digital threats, ensuring a robust pipeline of future professionals ready to meet global cybersecurity standards.
