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Fortinet Honors the Life and Contributions of Valued Board Member William H. Neukom
Fortinet Honors the Life and Contributions of Valued Board Member William H. Neukom

Hamilton Spectator

time21-07-2025

  • Business
  • Hamilton Spectator

Fortinet Honors the Life and Contributions of Valued Board Member William H. Neukom

SUNNYVALE, Calif., July 21, 2025 (GLOBE NEWSWIRE) — Fortinet ® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the passing of William H. 'Bill' Neukom, a distinguished member of Fortinet's Board of Directors since 2013. During his tenure, Bill provided unwavering leadership, thoughtful guidance, and mentorship that anchored the company through years of significant growth. The Fortinet Board of Directors issues the following statement: 'We are profoundly saddened by the passing of Bill Neukom. His contributions to Fortinet and to the technology industry are immeasurable, and he will be deeply missed as a friend and colleague across our entire organization. Bill embodied a combination of vision, intellect, and warmth. He brought extraordinary insight and dedication to every discussion, always rooted in integrity, accountability, and a deep commitment to people and purpose. We extend our heartfelt condolences to Bill's family, friends, and all those fortunate enough to have worked alongside him. He will be dearly missed and always remembered.' Bill's legacy extends far beyond Fortinet's boardroom, bringing a lifetime of experience, including from his time at Microsoft, where he served as the company's first general counsel, and as founder and CEO of the World Justice Project, a global nonprofit devoted to promoting the rule of law. His lifelong work elevated the importance of corporate responsibility, customer trust, and technology's role in society. His leadership, character, and contributions will remain a lasting part of Fortinet's legacy. About Fortinet ( Fortinet (Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute , one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams (CERTS), government entities, and academia, is a fundamental aspect of Fortinet's commitment to enhance cyber resilience globally. FortiGuard Labs , Fortinet's elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at , the Fortinet Blog , and FortiGuard Labs . Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAgent, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiEndpoint FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSEC, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

Why passwords are no longer a fortress: rethinking security in the digital age
Why passwords are no longer a fortress: rethinking security in the digital age

IOL News

time24-06-2025

  • Business
  • IOL News

Why passwords are no longer a fortress: rethinking security in the digital age

Most corporate password policies still rely on complexity: a combination of 12 characters, mixed case, numbers, symbols, and mandatory resets. Image: Red Ribbon Communications Doros Hadjizenonos, Regional Director at Fortinet The password is no longer a fortress in and of itself. In a landscape where attackers effortlessly bypass traditional defences, passwords have become more of a revolving door to a greater security fortress – one that needs to be built on resilience, not strength. For years, password length and complexity were the cornerstones of cyber-hygiene. Today, however, attackers are outmanoeuvring this strategy. FortiGuard Labs recorded over 100 billion stolen credentials traded on underground markets last year – a 42% surge fuelled by massive 'combo lists' harvested from past breaches. These lists enable cybercriminals to automate credential-stuffing at scale, meaning a single leaked username and password can unlock numerous corporate accounts in seconds. Doros Hadjizenonos, Regional Director at Fortinet Image: Red Ribbon Communications Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Human behaviour compounds the problem. Approximately six in ten people still reuse passwords across personal and professional accounts, while the average user juggles nearly 170 logins. It is unrealistic to expect anyone to create and remember 170 unique, complex passphrases. Faced with this cognitive overload, weak habits emerge: recycled passwords, sticky notes, and temporary credentials that persist for years. Attackers exploit this reality, primarily through phishing. Roughly 70% of stolen passwords originate from phishing campaigns, and the rise of AI-generated lures has made fraudulent emails and fake login pages nearly indistinguishable from legitimate ones. South African organisations, particularly small and medium-sized enterprises (SMEs), often lack the resources to filter every suspicious message, making them attractive targets. Complexity rules losing their punch Most corporate password policies still rely on complexity: a combination of 12 characters, mixed case, numbers, symbols, and mandatory resets. While complexity does slow brute-force cracking, its effectiveness diminishes once credentials are stolen or phished. Complexity increases the effort required for a direct attack, but it's futile against attackers who purchase valid logins on the darknet. Four priorities for South African defenders Make Multi-Factor Authentication (MFA) mandatory, everywhere. Industry studies indicate that MFA blocks over 99% of automated credential abuse. However, adoption across Africa remains around 50% and is often lower among SMEs. An organisation's security is only as robust as its weakest privileged account. Therefore, every administrator console, VPN, and SaaS dashboard must be protected by an additional security factor. Accelerate the shift to passwordless access. FIDO2 hardware keys, mobile passkeys, and platform-based biometrics cannot be replayed or phished. Organisations that pilot password-free logins typically experience a reduction in help desk calls and fewer account takeover alerts. These benefits should encourage broader adoption in South African organisations. Deploy enterprise-grade password managers . While passwordless solutions mature, most businesses operate in a hybrid environment. Password managers generate high-entropy passwords, securely autofill them, and audit reuse, while providing the governance logs increasingly required by regulators. Integrate identity intelligence into a broader security fabric. Fortinet's Continuous Threat Exposure Management (CTEM) approach correlates leaked-credential intelligence with network telemetry. This enables automated credential resets when an employee's email address appears on a combo list, preventing criminals from exploiting those credentials. Combined with AI-driven phishing protection, this approach minimises opportunities for attackers. Don't overlook the human firewall Technology alone cannot address a behavioural challenge. Fortinet's recent research reveals that 70% of South African organisations lack basic cyber-awareness training. Regular simulations that train staff to identify spoofed login pages and report suspicious messages are a cost-effective, high-impact defence layer. Leadership must champion these programmes and mitigate security fatigue by ensuring policies and training are perceived as empowering rather than punitive. Resilience and resistance Passwords will remain part of the authentication landscape for the foreseeable future, but their role is evolving. Attackers understand that breaching identity is cheaper and faster than exploiting zero-day vulnerabilities, and the darknet's thriving credential economy provides sophisticated tools to even the least skilled criminals. South African businesses that adopt ubiquitous MFA, passwordless pilots, robust vaulting, and continuous exposure management will make that economy less profitable.

Report: Advanced Cyberattacks Hit Middle East Critical Infrastructure Over Two Years
Report: Advanced Cyberattacks Hit Middle East Critical Infrastructure Over Two Years

Mid East Info

time18-06-2025

  • Business
  • Mid East Info

Report: Advanced Cyberattacks Hit Middle East Critical Infrastructure Over Two Years

FortiGuard Labs Uncovers Advanced Espionage Campaign Targeting IT/OT Systems 73% of OT Firms Targeted as Cyberattacks Escalate Across Critical Sectors The FortiGuard Labs' Incident Response (FGIR) team recently investigated a long-term cyber intrusion targeting critical national infrastructure (CNI) in the Middle East. The intrusion, attributed to a state-sponsored threat actor, involved sustained espionage operations and suspected network prepositioning. Over the course of nearly two years, the threat actor deployed novel malware, bypassed network segmentation, and made repeated attempts to maintain access across segmented IT and OT environments. Advanced Malware and Persistent Access: The multi-phase intrusion detailed by FGIR spanned from 2023 to early 2025. The attacker initially gained entry using compromised VPN credentials, then established footholds using multiple custom backdoors including HanifNet, HXLibrary, and NeoExpressRAT. They bypassed segmentation using proxy tools such as Ngrok, ReverseSocks5, and plink, and targeted virtualization infrastructure to deepen access. While no confirmed disruption to OT systems was observed, the report notes significant reconnaissance activity in restricted environments — emphasizing the need for heightened defense across converged IT/OT networks. The operation unfolded across four stages: initial compromise, consolidation of access, adversary response to containment, and attempted re-entry via exploitation of third-party software and phishing attacks. Even after being removed from the network, the threat actor made repeated efforts to re-establish access — signalling a long-term strategic objective. OT Security Faces Escalating Threats: According to Fortinet's 2024 State of Operational Technology and Cybersecurity Report, 73% of OT organizations globally have now experienced cyber intrusions — up from 49% in 2023 — with targeted OT-only attacks also rising from 17% to 24%. This trend mirrors the patterns observed in the latest investigation, where state-linked actors deployed advanced malware, evaded detection, and used phishing and software exploitation to reestablish access after remediation efforts. For this reason, we are seeing responsibility for OT cybersecurity increasingly shifting to the CISO, CIO, and COO, with 60% of organizations reporting executive-level oversight. Regional Threat Activity on the Rise: Fortinet's 2025 Global Threat Landscape Report also confirms that state-sponsored groups remain highly active, targeting government, technology, and education sectors. Interestingly, over 60% of hacktivist campaigns globally were linked to geopolitical causes. The Middle East also remains a high-risk region for cyber activity, with the EMEA region accounting for 26% of recorded global exploitation attempts. Defensive Recommendations: To defend against such persistent and well-resourced adversaries, the FortiGuard team recommends that organizations prioritize the following defensive measures: Enforcing multi-factor authentication (MFA) and regular credential rotation Deploying zero-trust architecture and network segmentation Implementing endpoint detection and response (EDR) and behavioural analytics Conducting regular penetration testing and incident response readiness exercises This investigation highlights the persistent and evolving nature of state-backed cyber threats targeting Middle Eastern CNIs, and a growing need for continuous monitoring, adaptive defense strategies, and coordinated threat intelligence to protect critical infrastructure in the face of sophisticated cyber threats.

Is Fortinet's FortiGuard AI Service Becoming a Key Growth Driver?
Is Fortinet's FortiGuard AI Service Becoming a Key Growth Driver?

Globe and Mail

time09-06-2025

  • Business
  • Globe and Mail

Is Fortinet's FortiGuard AI Service Becoming a Key Growth Driver?

Fortinet 's FTNT FortiGuard AI-powered security services have been gaining traction as more enterprises turn to real-time, automated protection to secure users, data and infrastructure. These services, which include threat intelligence, intrusion prevention, data loss prevention (DLP), antivirus and web filtering, are powered by FortiGuard Labs' global sensor network and AI models. Strong adoption has been driving top-line growth. In the first quarter of fiscal 2025, service revenues of $1.08 billion increased 14% year over year. Security subscriptions, including FortiGuard services, grew 16% year over year and remain a key driver of service growth. It made up 57.7% of Fortinet's service revenues in the first quarter. Services now make up more than 70% of Fortinet's total revenues, underscoring the importance of recurring, AI-powered solutions in its business model. Fortinet's continued focus on expanding FortiGuard's reach is visible in the launch of its AI-powered Workspace Security Suite. The suite protects key productivity platforms like Microsoft 365 and Google Workspace with AI-based phishing detection, impersonation defense, DLP and 24/7 incident response. These capabilities are fully backed by FortiGuard's intelligence and seamlessly integrate into Fortinet's broader Security Fabric to automate threat response and improve detection accuracy. Fortinet's AI services are a long-term growth driver. The company is deepening AI integration across its service portfolio and holds more than 500 AI-related patents. As demand grows for scalable, intelligence-led protection across hybrid and cloud environments, Fortinet expects its AI-enhanced services, such as FortiGuard, to contribute meaningfully to recurring, high-margin revenue growth. FTNT Faces Stiff Competition Fortinet's FortiGuard AI-powered services face growing competition from Palo Alto Networks PANW and Cisco Systems CSCO, both of which are expanding their AI security capabilities. Palo Alto Networks is expanding its AI security footprint with the acquisition of Protect AI, a leader in securing AI and ML applications. The move strengthens Palo Alto Networks' capabilities to defend against emerging threats like model manipulation and prompt injection. It reflects the company's push to lead in next-generation cybersecurity by addressing risks in the growing AI ecosystem. Meanwhile, Cisco Systems is boosting its AI security capabilities with updates to its XDR and Splunk platforms. It introduced agentic AI for faster threat detection and launched Foundation AI, featuring the first reasoning model for security. Cisco Systems also expanded its partnership with ServiceNow to support secure, scalable AI adoption. FTNT's Share Price Performance, Valuation and Estimates FTNT shares have risen 9.8% in the year-to-date (YTD) period, underperforming the Zacks Security industry's growth of 21.9%. FTNT has outperformed the Zacks Computer and Technology sector's return of 1.3%. FTNT's YTD Price Performance From a valuation standpoint, Fortinet stock is currently trading at a Price/Book ratio of 40.88X compared with the industry's 24.58X. FTNT has a Value Score of F. FTNT Valuation Image Source: Zacks Investment Research The Zacks Consensus Estimate for second-quarter 2025 earnings is pegged at 59 cents per share, unchanged over the past 30 days, indicating 3.51% year-over-year growth. The consensus mark for 2025 earnings is pegged at $2.48 per share, which has been revised upward by 2 cents over the past 30 days. The estimate indicates 4.64% year-over-year growth. Fortinet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cisco Systems, Inc. (CSCO): Free Stock Analysis Report Fortinet, Inc. (FTNT): Free Stock Analysis Report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report

Fortinet Releases 2025 Cybersecurity Report with Key Threat
Fortinet Releases 2025 Cybersecurity Report with Key Threat

TECHx

time12-05-2025

  • Business
  • TECHx

Fortinet Releases 2025 Cybersecurity Report with Key Threat

Home » Emerging technologies » Cyber Security » Fortinet Releases 2025 Cybersecurity Report with Key Threat Insights Fortinet® (NASDAQ: FTNT), a global cybersecurity company, has released its 2025 cybersecurity report. The Global Threat Landscape Report from FortiGuard Labs presents a detailed view of cyberattack trends and behaviors from 2024. The findings show that cybercriminals are increasing their use of automation, AI, and readily available tools. These methods are reducing the gap between attackers and defenders. The report draws from data mapped to the MITRE ATT&CK framework. It shows how threat actors are adapting faster and targeting vulnerabilities more aggressively. Derek Manky, Chief Security Strategist and Global VP of Threat Intelligence at Fortinet FortiGuard Labs, stated that attackers are moving at 'unprecedented speed and scale.' He emphasized that traditional security strategies are no longer enough. Organizations must now focus on proactive, intelligence-driven defenses using AI, zero trust models, and constant exposure management. One major trend observed is the surge in automated scanning. In 2024, there was a 16.7% increase globally, with cybercriminals scanning the internet for weak points at a rate of 36,000 scans per second. Attackers targeted services such as SIP, RDP, and OT/IoT protocols like Modbus TCP. Another key finding is the growing role of darknet marketplaces. These platforms now offer easy access to exploit kits and stolen credentials. In 2024, over 40,000 new vulnerabilities were added to the National Vulnerability Database, a 39% rise from 2023. Infostealer malware also contributed to a 500% increase in compromised system logs, with 1.7 billion stolen credential records shared online. AI is now a core tool for cybercriminals. Malicious use of AI platforms such as FraudGPT, BlackmailerV3, and ElevenLabs is making phishing attacks more convincing and harder to detect. These tools are not bound by ethical restrictions and can be used to create large-scale, believable attack campaigns. Targeted attacks on critical industries have intensified. Manufacturing was the most attacked sector in 2024 (17%), followed by business services (11%), construction (9%), and retail (9%). The United States experienced the highest volume of attacks (61%), with the UK and Canada following. Cloud and IoT environments are also under pressure. In 70% of incidents, attackers gained access via login attempts from unknown geographies. Common issues include open storage buckets and misconfigured services. Credentials remain a top asset for cybercriminals. In 2024, over 100 billion compromised records were posted on underground forums, a 42% increase year-over-year. More than half of darknet posts included leaked databases. Popular groups like BestCombo, BloddyMery, and ValidMail were active in validating and sharing stolen credentials, increasing the risk of account takeovers and fraud. To address these threats, Fortinet has included a 'CISO Playbook for Adversary Defense' in the report. It provides actionable recommendations for security teams: Shift from traditional detection to continuous threat exposure management. Simulate real-world attacks with red teaming and adversary emulation. Focus on high-risk vulnerabilities using frameworks like CVSS and EPSS. Monitoring darknet activity is also recommended to detect new ransomware tools and hacker activity early. FortiGuard Labs Advisory Services support organizations with expert guidance, threat simulation, and incident response. These services aim to reduce cyber risk and improve resilience against evolving threats. The 2025 cybersecurity report is a timely reminder of how fast the threat landscape is changing. Organizations are encouraged to adopt advanced tools and strategies to stay ahead.

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