diff --git a/BASE/src/Microsoft.ApplicationInsights/Properties/AssemblyInfo.cs b/BASE/src/Microsoft.ApplicationInsights/Properties/AssemblyInfo.cs
index c610abf89..a331458b3 100644
--- a/BASE/src/Microsoft.ApplicationInsights/Properties/AssemblyInfo.cs
+++ b/BASE/src/Microsoft.ApplicationInsights/Properties/AssemblyInfo.cs
@@ -9,6 +9,9 @@
 [assembly: InternalsVisibleTo("Microsoft.ApplicationInsights.AspNetCore, PublicKey=" + AssemblyInfo.PublicKey)]
 [assembly: InternalsVisibleTo("Microsoft.ApplicationInsights.WorkerService, PublicKey=" + AssemblyInfo.PublicKey)]
 
+// Required so Moq/Castle.DynamicProxy can subclass internal types (e.g. MemoryMappedFileHandler) for unit testing.
+[assembly: InternalsVisibleTo("DynamicProxyGenAssembly2, PublicKey=" + AssemblyInfo.MoqPublicKey)]
+
 internal static class AssemblyInfo
 {
 #if PUBLIC_RELEASE
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 19cf528c2..32a4e876e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,17 @@
 # Changelog
 
+## Unreleased
+- [Update OpenTelemetry and Azure Monitor dependencies to address known security advisories (e.g. [GHSA-g94r-2vxg-569j](https://github.com/advisories/GHSA-g94r-2vxg-569j) in `OpenTelemetry.Api` 1.15.1).](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3174)
+  - OpenTelemetry 1.15.3
+  - OpenTelemetry.Exporter.Console 1.15.3
+  - OpenTelemetry.Exporter.InMemory 1.15.3
+  - OpenTelemetry.Extensions.Hosting 1.15.3
+  - OpenTelemetry.Instrumentation.AspNetCore 1.15.2
+  - OpenTelemetry.Instrumentation.AspNet 1.15.2
+  - OpenTelemetry.Instrumentation.Http 1.15.1
+  - OpenTelemetry.Instrumentation.SqlClient 1.15.2
+  - Azure.Monitor.OpenTelemetry.Exporter 1.8.0
+
 ## Version 3.1.0
 - [Make `TelemetryContext` properties public and propagate them via `TelemetryClient`.](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3137)
 - [Add fallback to `APPLICATIONINSIGHTS_CONNECTION_STRING` environment variable for Base, Web, and NLog packages when connection string is not set via code.](https://github.com/microsoft/ApplicationInsights-dotnet/pull/3134)
diff --git a/Directory.Packages.props b/Directory.Packages.props
index ee6688fb1..96aa30be6 100644
--- a/Directory.Packages.props
+++ b/Directory.Packages.props
@@ -15,22 +15,22 @@
   <!-- 
     ==============================================================================
     OPENTELEMETRY PACKAGES
-    Core packages using stable version 1.15.1 with some RC/Beta components
+    Core packages using stable version 1.15.3 with some RC/Beta components
     ==============================================================================
   -->
 
-  <ItemGroup Label="OpenTelemetry - Core (Stable 1.15.1)">
-    <PackageVersion Include="OpenTelemetry" Version="1.15.1" />
-    <PackageVersion Include="OpenTelemetry.Exporter.Console" Version="1.15.1" />
-    <PackageVersion Include="OpenTelemetry.Exporter.InMemory" Version="1.15.1" />
-    <PackageVersion Include="OpenTelemetry.Extensions.Hosting" Version="1.15.1" />
+  <ItemGroup Label="OpenTelemetry - Core (Stable 1.15.3)">
+    <PackageVersion Include="OpenTelemetry" Version="1.15.3" />
+    <PackageVersion Include="OpenTelemetry.Exporter.Console" Version="1.15.3" />
+    <PackageVersion Include="OpenTelemetry.Exporter.InMemory" Version="1.15.3" />
+    <PackageVersion Include="OpenTelemetry.Extensions.Hosting" Version="1.15.3" />
   </ItemGroup>
 
   <ItemGroup Label="OpenTelemetry - Instrumentation">
-    <PackageVersion Include="OpenTelemetry.Instrumentation.AspNetCore" Version="1.15.0" />
-    <PackageVersion Include="OpenTelemetry.Instrumentation.AspNet" Version="1.15.1" />
-    <PackageVersion Include="OpenTelemetry.Instrumentation.Http" Version="1.15.0" />
-    <PackageVersion Include="OpenTelemetry.Instrumentation.SqlClient" Version="1.15.0" />
+    <PackageVersion Include="OpenTelemetry.Instrumentation.AspNetCore" Version="1.15.2" />
+    <PackageVersion Include="OpenTelemetry.Instrumentation.AspNet" Version="1.15.2" />
+    <PackageVersion Include="OpenTelemetry.Instrumentation.Http" Version="1.15.1" />
+    <PackageVersion Include="OpenTelemetry.Instrumentation.SqlClient" Version="1.15.2" />
   </ItemGroup>
 
   <!-- 
@@ -40,13 +40,13 @@
   -->
 
   <ItemGroup Label="Azure Monitor">
-    <PackageVersion Include="Azure.Monitor.OpenTelemetry.Exporter" Version="1.7.0" />
+    <PackageVersion Include="Azure.Monitor.OpenTelemetry.Exporter" Version="1.8.0" />
   </ItemGroup>
 
   <!-- 
     ==============================================================================
     MICROSOFT.EXTENSIONS PACKAGES
-    Most packages on 10.0.2; Microsoft.Extensions.Options on 10.0.3 (required by Azure Monitor Exporter 1.7.0)
+    Most packages on 10.0.2; Microsoft.Extensions.Options on 10.0.3 (required by Azure Monitor Exporter 1.8.0)
     ==============================================================================
   -->