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Josh Lefkowitz
Chief Executive Officer
Josh Lefkowitz executes the company’s strategic vision to empower organizations with Business Risk Intelligence (BRI). 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.
Evan Kohlmann
Chief Innovation Officer
Evan Kohlmann focuses on product innovation at Flashpoint where he leverages fifteen years’ experience tracking Al-Qaida, ISIS, and other terrorist groups. He has consulted for the US Department of Defense, the US Department of Justice, the Australian Federal Police, and Scotland Yard’s Counter Terrorism Command, among others. Mr. Kohlmann holds a JD from the Univ. of Pennsylvania Law School and a BSFS in International Politics from the Walsh School of Foreign Service at Georgetown Univ.
Josh Devon
Chief Operating Officer / VP Product
Josh Devon focuses on product vision and strategy at Flashpoint while ensuring the company’s departments function synergistically during its rapid growth. He also works to ensure that customers receive best in class products, services, and support. Previously, Mr. Devon co-founded the SITE Intelligence Group where he served as Assistant Director. He holds an MA from SAIS at Johns Hopkins Univ. At the Univ. of Pennsylvania, he received a BS in Economics from the Wharton School and a BA in English from the College of Arts and Sciences.
Jennifer Leggio
Chief Marketing Officer
Jennifer Leggio is responsible for Flashpoint’s marketing, customer acquisition, and operations. Ms. Leggio has more than 20 years of experience driving marketing, communications and go-to-market strategies in the cybersecurity industry. She’s previously held senior leadership roles at Digital Shadows, Cisco, Sourcefire, and Fortinet. She’s been a contributor to Forbes and ZDNet, and has spoken on the importance of coordinated disclosure at DEF CON and Hack in the Box, and on threat actor “publicity” trends at RSA Conference, Gartner Security Summit, and SXSW Interactive.
Chris Camacho
Chief Strategy Officer
Chris Camacho leads the company’s sales and client engagement & development teams, which also includes customer success, solution architecture, business development, strategic integrations, and the FPCollab sharing community. With over 15 years of cybersecurity leadership experience, he has spearheaded initiatives across Operational Strategy, Incident Response, Threat Management, and Security Operations to ensure cyber risk postures align with business goals. Most recently as a Senior Vice President of Information Security at Bank of America, Mr. Camacho was responsible for overseeing the Threat Management Program. An entrepreneur, Mr. Camacho also serves as CEO for NinjaJobs: a career-matching community for elite cybersecurity talent. He has a BS in Decision Sciences & Management of Information Systems from George Mason University.
Lisa Iadanza
Chief People Officer
Lisa M. Iadanza leads all functional areas of People Operations at Flashpoint, including human resources, talent acquisition & management, employee engagement, and developing high performance teams. In addition to collaborating with the executive team to drive strategic growth, she plays an integral role in fostering Flashpoint’s culture and mission. Driven by her passions for mentorship, employee advocacy, and talent development, Ms. Iadanza has more than twenty years of experience in building, scaling, and leading human resources functions. Prior to Flashpoint, she held leadership roles at Conde Nast, Terra Technology, and FreeWheel. She is a member of the Society for Human Resources Management (SHRM) and holds a bachelor’s degree in management with concentrations in human resources and marketing from State University of New York at Binghamton.
Rob Reznick
VP of Finance and Corporate Development
Rob Reznick leads the finance, accounting, and corporate development teams at Flashpoint. Rob previously served as Director of Finance & Accounting for 1010data (acquired by Advance/Newhouse), and Director of Finance for Financial Guard (acquired by Legg Mason) after prior work in forensic accounting and dispute consulting. Mr. Reznick is a Certified Public Accountant and holds an MBA and MAcc from the Fisher College of Business at the Ohio State University, and a BBA from the Ross School of Business at the University of Michigan.
Lance James
Chief Scientist / VP Engineering
Lance James is responsible for leading Flashpoint’s technology development. Prior to joining Flashpoint in 2015, he was the Head of Cyber Intelligence at Deloitte & Touche LLP. Mr. James has been an active member of the security community for over 20 years and enjoys working creatively together with technology teams to design and develop impactful solutions that disrupt online threats.
Brian Costello
SVP Global Partnerships and U.S. Public Sector
Brian Costello, a 20-year information technology and security solutions veteran, is responsible for leading the Global Sales, Solution Architecture, and Professional Services teams at Flashpoint. Throughout his career, Brian has successfully built security and cloud teams that have provided customers with innovative technology solutions, exceeded targets and consistently grown business year over year. Prior to Flashpoint, Brian led a global security and cloud vertical practice for Verizon. Brian also held senior leadership roles at Invincea, Risk Analytics and Cybertrust. Brian received his B.A. from George Mason University.
Tom Hofmann
VP Intelligence
Tom Hofmann leads the intelligence directorate that is responsible for the collection, analysis, production, and dissemination of Deep and Dark Web data. He works closely with clients to prioritize their intelligence requirements and ensures internal Flashpoint operations are aligned to those needs. Mr. Hofmann has been at the forefront of cyber intelligence operations in the commercial, government, and military sectors, and is renowned for his ability to drive effective intelligence operations to support offensive and defensive network operations.
Jake Wells
VP, Client Engagement & Development and Solution Architecture
Jake Wells leads strategic integrations and information sharing as part of the client engagement & development team, which serves as an internal advocate for our government and commercial clients to ensure Flashpoint’s intelligence solutions meet their evolving needs. He leverages a decade of experience running cyber and counterterrorism investigations, most recently with the NYPD Intelligence Bureau, to maximize the value customers generate from our products and services. Mr. Wells holds an MA from Columbia University and a BA from Emory University.
Brian Brown
VP Business Development
Brian Brown is responsible for the overall direction of strategic sales and development supporting Flashpoint’s largest clients. In his role, Mr. Brown focuses on designing and executing growth-oriented sales penetration strategies across multiple vertical markets, including both Government and Commercial, supporting Flashpoint’s Sales and Business Development Teams. An experienced entrepreneur, Mr. Brown also serves as CSO for NinjaJobs, a private community created to match elite cybersecurity talent with top tier global jobs and also advise growth-stage cybersecurity companies.
Justin Rogers
VP Revenue Operations
Justin Rogers leads the Revenue Operations team at Flashpoint, aligning marketing, sales, partnerships, and customer success across vision, planning, process, and goals. He leverages over 15 years of experience in security, strategy, product design, and implementation to drive growth, provide an end-to-end view of the customer journey, and a seamless customer experience. Recently, Justin led Marketing for Centripetal, bringing the first Threat Intelligence Gateway to market. Previously, he managed operations of a Counter IED lab electronics forensics division while forward deployed in support of Operation Iraqi Freedom and Operation Enduring Freedom in Afghanistan. Justin holds a BS in Electrical Engineering from the University of New Hampshire.
Glenn Lemons
Executive Director of Customer Success
Glenn Lemons is a Executive Director of Customer Success at Flashpoint. He previously served as the acting Director of Citigroup's Cyber Intelligence Center where he was responsible for analyzing and reacting to intelligence from a variety of threats. These threats ranged from fraudulent activity and attempting to defraud Citi's clients to supporting security operations for the firm's worldwide network presence. He has extensive experience working with multiple clients across the financial services, manufacturing, healthcare, and public sectors. Glenn also has more than 26 years of intelligence experience within the operational and support communities in the U.S. military and federal civilian service; seven of which focused on both defensive and offensive cyber operations. While working for the U.S. Department of Homeland Security, he testified numerous times before U.S. Congressional committees and member requested open and closed sessions.
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Steve Leightell
Steve started his career in Internet sales in the early 1990s and was always a top sales rep before transitioning to business development. By the early 2000s, he was the Director of Business Development at DWL, where he managed a team that built partnerships with Accenture, Oracle, Tata Consulting, Wipro, Cognizant and IBM. Steve designed the channel and strategy that ultimately culminated in the acquisition of DWL by IBM in 2005. He went on to lead a global team within IBM that was responsible for major system integrator partnerships. In 2008, he left IBM to found a niche consulting firm focused on business development for SaaS organizations. Steve holds a BA in anthropology and sociology from Carleton University in Ottawa.
Ellie Wheeler
Ellie Wheeler is a Partner at Greycroft and is based in the firm’s New York office. Prior to joining Greycroft, Ellie worked in a similar role evaluating investment opportunities at Lowercase Capital. Ellie also worked at Cisco in Corporate Development doing acquisitions, investments, and strategy within the unified communications, enterprise software, mobile, and video sectors. While at Cisco, she was involved in multiple acquisitions and investments, including PostPath, Jabber, Xobni, and Tandberg. She began her career in growth capital private equity at Summit Partners in Boston. Ellie graduated magna cum laude from Georgetown University with a BA in Psychology and holds an MBA from Harvard Business School.
Glenn McGonnigle
Glenn McGonnigle is a General Partner at TechOperators. Prior to launching TechOperators in 2008, Glenn was CEO of VistaScape Security Systems, a venture-backed provider of enterprise intelligent video surveillance software. He lead the company through its successful sale to Siemens Building Technologies. Previously, Glenn was a co-founder and senior executive of Atlanta-based Internet Security Systems (ISS) where he helped raise initial venture capital and launch the business. For 7 years, he led the business development team in developing sales channels and entering the managed security services market. During his tenure, the company grew from startup to revenues of over $225 million and was later acquired by IBM for $1.3 billion.
Peter George
Peter George has an established track record of building companies that deliver sustained growth and profits and in identifying critical worldwide partnership opportunities that strategically expand market share. Prior to becoming President and CEO of Fidelis Security Systems in 2008, Mr. George spent the last seven years as President and CEO of Crossbeam Systems, the market leader in the high-end segment of the Unified Threat Management market, where he took the company from being a pre-revenue start-up to over $50 million in revenue. Previously, he was President of Nortel Networks Enterprise Business in Europe, Middle-East, and Africa, responsible for managing more than 5,000 employees and $2 billion in revenue. Mr. George came to Nortel via their 1998 acquisition of Bay Networks where he was serving as vice president of European operations. During his tenure at Wellfleet and Bay, he played key sales executive roles in New England and in Europe. Prior to joining Wellfleet, Mr. George served as the Northeast regional manager and GM of Canada at 3Com Corporation, and also held senior management positions at Ungerman Bass. He received his BA from the College of the Holy Cross, and has done graduate studies at Harvard and Oxford University.
Brendan Hannigan
Brendan joined Polaris Partners in 2016 as an entrepreneur partner. In this role, he focuses on funding and founding companies in the technology sector with a concentration in cloud, analytics, and cybersecurity. Brendan is a co-founder of Sonrai Security and chairman of Twistlock, both Polaris investments. He also currently serves on the board of Bitsight Technologies and Flashpoint. A 25 year technology industry veteran, Brendan was most recently the general manager of IBM Security. Under Brendan’s leadership, IBM Security grew significantly faster than the overall security market to become the number one enterprise security provider in the world with almost $2B of annual revenue.
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Inside Payment Card Fraud: Part 2

Blog
October 3, 2019

By Isaac Palmer

In Inside Payment Card Fraud: Part 1, we examined why carding remains pervasive despite ongoing efforts to quash it, identified key intelligence requirements for teams tasked with fighting payment card fraud, and provided an overview of how criminals obtain victims’ card data. In this follow-up blog, we’ll look at what criminals do with stolen card data after obtaining it, the abundance of carding tutorials within online threat-actor communities, and the implications for defenders.

What Happens After Card Data is Obtained

Once obtained, stolen payment card data can be monetized in a number of ways:

Card Cloning

Some criminals use stolen card data to clone cards with specialized software, blank cards, and card-writing equipment. These cloned cards are then sold on illicit marketplaces or used to cash out at ATMs. Criminals have been known to copy compromised data on simple, blank white cards, but Flashpoint analysts have observed discussions indicating increased interest in creating more realistic cards featuring bank logos to avoid suspicion. Since only the magstripe data can be cloned onto a working card, attackers often seek out specific ATMs that still allow magstripe cards. In some cases, criminals enlist a money mule to carry out an ATM withdrawal using the cloned card to avoid being caught.

Card-cloning software typically runs at a price of around $1,500 USD. Fraudsters can also purchase batches of pre-made cards on illicit marketplaces, with cards containing data for high-value accounts selling at a higher price.

Digital Shopping Account Linking

Given the authentication-related challenges and physical security risks of cashing out cards at ATMs, some criminals have discovered an alternative way for reaping the profits of credit card fraud: online shopping. Flashpoint analysts have observed criminals exchanging advice within DDW communities on using mobile shopping or wallet applications to lower the risk and increase the success rate of making online purchases using stolen cards.

Card Shops Profiting From Stolen Data

Threat actors often sell compromised card data on illicit card shops, finding it easier and more profitable to sell the data to other criminals than attempt to carry out fraud themselves. Some card shops such as Joker’s Stash—which specializes in selling cards and dumps—are expansive, well established, and allow customers to filter card data by regions and other criteria. Joker’s Stash has been a major supplier of cards and dumps for the past four-and-a-half years and is known for its flexible refund policy and reliable support.

Cybercrime Groups and Financial Data Theft

Advanced cybercriminal groups with APT-like capabilities, such as FIN7, have been associated with capturing financial details in order to create more income and disposable profit. FIN7 is a notorious cybercrime group that targets many financial institutions, payment processors, and restaurants. The group is alleged to have stolen more than 15 million credit cards and attacked more than 3,600 locations. The group monetizes the pilfered data via underground services such as the top-tier card shop Joker’s Stash.

Carding Tutorials Abundant Across Global Cybercrime Community

Flashpoint analysts have seen a proliferation of carding tutorials across illicit communities spanning numerous regions and languages, often offered as a bonus to customers who purchase skimmers, shimmers, cards, or other related goods and services.

Such tutorials are also advertised individually—particularly within the Chinese-language underground—claiming to offer insight into carding TTPs, such as the use of proxies and proxy configuration, clearing of web browser history, reputable vendors of payment card information, web browser add-ons, email address set-up, and cashing out. Flashpoint analysts have observed some criminals offering carding tutoring services, where experienced cybercriminals will, for a fee, run online courses for inexperienced fraudsters. Such courses are especially popular within Russian-language communities.

Assessment

The global scope of illicit carding activity is noteworthy due to the relative weakness of payment card security in some countries compared to others. For example, the mandate of EMV chip technology has not been enforced in some areas of the world; therefore, carding guides that would be considered outdated in some parts of the world may allow criminals to profit in others.

To protect against ongoing efforts to steal payment card data and reap profits from it, financial institutions and retailers should make a priority of ensuring they are up to date with the latest point-of-sale and payment-card security technologies. Moreover, these organizations should have visibility into activity on illicit card shops to identify and quickly mitigate breaches and card dumps.

To learn more about how Flashpoint helps organizations combat carding activity and other types of fraud, request a demo.

 

Isaac Palmer

Senior Analyst II

Isaac Palmer is a Senior Analyst II on Flashpoint’s Hunt Team who has more than 20 years of experience in computer security. He has advised multiple U.S. government agencies in various capacities and has been featured in major online media outlets around the world including Infosecurity Magazine, SC Magazine, and SecurityWeek, among many others. Isaac was a noted contributor to the DGA Archive project presented in Paris, France during BotConf2015.

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