CVE-2022-40113 is a critical SQL injection vulnerability identified in an Online Banking System version 1.0. The vulnerability exists in the 'cust_id' parameter of the /net-banking/send_funds.php endpoint. SQL injection (CWE-89) vulnerabilities allow attackers to inject malicious SQL statements into input fields that are not properly sanitized, enabling unauthorized access to or manipulation of the backend database. In this case, the vulnerability allows an unauthenticated attacker to remotely execute arbitrary SQL commands without any user interaction, as indicated by the CVSS vector (AV:N/AC:L/PR:N/UI:N). The impact on confidentiality, integrity, and availability is high, as attackers could potentially exfiltrate sensitive banking data, modify transaction records, or disrupt banking operations. The vulnerability is remotely exploitable over the network with low attack complexity and no privileges required, making it highly dangerous. Although no specific vendor or product details beyond 'Online Banking System v1.0' are provided, the critical CVSS score of 9.8 highlights the severity of this flaw. No patches or known exploits in the wild have been reported at the time of publication, but the vulnerability's nature makes it a prime target for attackers aiming to compromise financial systems.

For European organizations, especially banks and financial institutions using this or similar online banking platforms, the impact could be severe. Exploitation could lead to unauthorized fund transfers, theft of customer data including personally identifiable information (PII), and disruption of banking services. This would not only cause direct financial losses but also damage customer trust and potentially lead to regulatory penalties under GDPR and other financial regulations. The ability to execute arbitrary SQL commands without authentication means attackers could manipulate transaction data, create fraudulent transactions, or delete critical records, severely impacting operational integrity. Additionally, the breach of sensitive customer data could facilitate further fraud or identity theft. The reputational damage and compliance risks for European financial institutions are significant, making timely mitigation essential.

Given the critical nature of this SQL injection vulnerability, European organizations should prioritize the following specific mitigations: 1) Immediate code review and remediation of the 'cust_id' parameter in /net-banking/send_funds.php to implement proper input validation and parameterized queries (prepared statements) to prevent SQL injection. 2) Conduct comprehensive penetration testing and code audits on all web-facing banking applications to identify and remediate similar injection flaws. 3) Implement Web Application Firewalls (WAFs) with custom rules to detect and block SQL injection attempts targeting the vulnerable endpoint as a temporary protective measure. 4) Monitor database logs and application logs for suspicious queries or anomalies indicative of exploitation attempts. 5) Enforce strict access controls and segmentation on database servers to limit the impact if exploitation occurs. 6) Educate development teams on secure coding practices focused on input sanitization and use of ORM frameworks that mitigate injection risks. 7) Establish an incident response plan specific to web application attacks to quickly contain and remediate any exploitation. Since no patches are currently available, these steps are critical to reduce exposure.