Business Risk Intelligence Continues to Fuel Growth, Innovation in 2018
Quarter after quarter, Flashpoint’s driving goal is to make the world a safer and more secure place through better decisions. We strive to empower a growing number of organizations worldwide with Business Risk Intelligence (BRI) to combat the threats and adversaries that matter to them the most. To deliver the best BRI, we focus intently on understanding and satisfying our customers’ unique and complex needs, and of course applying what we learn to the evolution of our products and services.
I’m extremely humbled and proud to share that in Q2 2018, we were able to help even more organizations in both the private and public sectors realize the impact of BRI. In pursuit of supporting our customers, we also achieved our 10th consecutive quarter exceeding our bookings target. This milestone is largely due to our team’s talent and unrelenting commitment in the following areas:
Growing our global footprint
International growth has always been a top priority for Flashpoint, and last quarter was no different. Following last year’s expansion into Europe and the Middle East, and Q1’s expansion into Latin America, we were thrilled to expand even further in Asia Pacific in June.
With significant focus on Singapore, Japan and Australia, this latest expansion was overseen by industry veteran Jankang Tao, who recently joined Flashpoint as director of sales, Asia Pacific after more than 16 years leading business initiatives at organizations including IBM, JouleX, and Cisco. In addition to increasing the reach and accessibility of BRI, the Asia Pacific market has since given us ample opportunity to grow, innovate, and collaborate with leading experts throughout the region.
Empowering defenders with critical research and analysis
The Flashpoint team’s collective expertise and research capabilities not only remain integral to the growth and success of the company, but they also continue to help members of our community combat a broad spectrum of threats and adversaries more effectively. I couldn’t be more impressed by our team’s research contributions during Q2, including:
• Amina Bashir, analyst, Paul Burbage, senior malware researcher, and Vitali Kremez, director of research, conducted exhaustive analysis on a crimeware kit called the Rubella Macro Builder, thereby uncovering its indicators of compromise (IOCs) and key details about why the kit has rapidly gained appeal among cybercriminals: it is affordable, easy to use, and can bypass static antivirus detection. Armed with this information, organizations can better protect themselves and their stakeholders from this threat.
• Thanks to his extensive expertise and investigative support, Ronnie Tokazowski, senior malware analyst, was critical to the success of a years-long international law enforcement operation that led to 74 arrests of those allegedly involved in hundreds of business e-mail compromise (BEC) schemes.
• The Flashpoint analyst team’s research on SIM swap fraud provided crucial insight into an insider recruitment campaign that targeted employees of mobile phone carriers, a number of high-profile fraud incidents involving phone number takeover, and tactics for mitigating the resulting business risks. These insights have since enabled numerous organizations to more effectively detect and combat SIM swap fraud.
• After discovering leaked source code from TreasureHunter, a point-of-sale (PoS) malware family, Vitali Kremez, director of research, teamed up with researchers from Cisco Talos in order to disrupt potential copycats who may have their hands on the source code. Not only did this cross-organizational collaboration reveal new information about TreasureHunter, it also helped improve malware protections and enhance detection mechanisms.
• When David Shear, analyst, investigated the compromise of data via Trello, he identified hundreds of public Trello boards containing exposed passwords and other sensitive information. Shear then worked with security blogger Brian Krebs to document and report these findings to Trello, enabling the company to address the incident, notify the affected users, and mitigate any further exposure.
• The 2018 mid-year update to our Business Risk Intelligence Decision Report reinforced the critical need for decision-makers to regard geopolitical context as a core component of their security and risk strategies. This fourth installment of our biannual report was warmly received by our customers, partners, and community for its insightful analysis of key trends shaping the geopolitical threat landscape. As the primary author of the report, Jon Condra, director of Asia Pacific research, earned media coverage in publications including Infosecurity Magazine, Threatpost, and most notably, in an on-air and incisive interview with news anchor Emily Chang on Bloomberg Television.
Serving as a go-to resource and trusted partner for our customers
As BRI has continued to gain traction across the public and private sectors worldwide in recent years, our esteemed customer base has grown and diversified rapidly. Although this growth and diversification is a key measure of Flashpoint’s success, it also reinforces the critical need for us to continue to tailor and enhance our capabilities and BRI offerings to help further address the increasingly complex threats and challenges our customers face. Handling these intricacies is why I am especially honored to highlight the following customer-engagement milestones from Q2:
• Helping online gambling and betting leader William Hill to understand, detect, and mitigate the enterprise-wide risks posed by DDoS activity and credential stuffing attacks more effectively.
• Empowering the cybersecurity team at a Fortune 500 global infrastructure bank with comprehensive visibility into the cyber threat landscape, thereby enabling the team to proactively combat a broad spectrum of relevant cyber threats.
• Providing one of the largest life insurance providers in the U.S. with finished intelligence and tailored Deep & Dark Web monitoring services that helped the company’s threat intelligence team combat alert fatigue and more accurately identify, prioritize, and mitigate the risks posed by fraudsters, cybercriminals, and advanced persistent threat (APT) groups.
• Earning industry-wide recognition by the SC Awards Europe in the best customer service category for our exemplary service, dedication, and customer support.
The above highlights not only underscore the fact that our unique combination of talent and technology differentiate Flashpoint as best of breed in BRI, but they also serve as a testament to the collaborative and trusting relationships that have been integral to our growth and success since day one. With another noteworthy quarter now behind us, I’d like to thank our team members, customers, partners, investors, and friends for helping us shape Flashpoint into the company it is today. And now, as we head into Q3 and beyond, I look forward to continuing to challenge ourselves, innovate, and grow in support of our mission and vision.
Josh Lefkowitz is the Chief Executive Officer of Flashpoint, where he executes the company’s strategic vision to empower organizations with Business Risk Intelligence (BRI) derived from the Deep & Dark Web. He has worked extensively with authorities to track and analyze terrorist groups. Mr. Lefkowitz also served as a consultant to the FBI’s senior management team and worked for a top tier, global investment bank. Mr. Lefkowitz holds an MBA from Harvard University and a BA from Williams College.