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 / VP Operations
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 client engagement and development team, which includes customer success, 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 Sales and Solution Architecture
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
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.
image/svg+xml image/svg+xml
Download Forrester’s Guide to Paying Ransomware Report Now

The Fraud Intelligence Cycle

March 18, 2019

By Chris Camacho

Usage of the intelligence cycle in the commercial sector is often relegated—and in many cases, exclusively so—to cyber threat intelligence (CTI) teams. But because its core principles are easily adaptable to just about any use case requiring in-depth research and complex analysis, the intelligence cycle can also be beneficial for fraud teams by adding structure to key processes and ensuring an actionable and relevant finished product.

Here’s a step-by-step walkthrough of how fraud teams can apply the intelligence cycle to support and optimize fraud investigations:

Image 1: The stages of the cyber threat intelligence cycle.
Image 1: The stages of the intelligence cycle.

Step 1: Planning & Direction

During the first stage of the intelligence cycle, teams lay the groundwork for remainder of the process by identifying intelligence goals, setting priorities, and developing an action plan. An effective fraud investigation requires thoughtful management from the outset.

Fraud teams should begin by setting an objective and identifying a set of questions that the investigation will need to answer in order to fulfill this objective. These questions are known as intelligence requirements (IRs).

To focus on a general example, suppose the anti-fraud team at a major bank observes an uptick in account takeover (ATO) activity and consequential losses. In response, the team decides to conduct an investigation to determine how it could reduce future financial losses from ATO fraud. The team then chooses to align this objective with the following IRs:

• IR No. 1: Which tactics, techniques, and procedures (TTPs) are being used by fraudsters to access customer accounts, and what types of actors are behind this activity?

• IR No. 2: Which user behaviors are telltale signs of an account that has been hijacked by an ATO fraudster?

In addition to understanding how ATO fraudsters are gaining access to customer accounts in the first place (IR No. 1), the fraud team wants to understand how fraudsters behave once they have taken over an account so they can determine how to more effectively flag suspicious activity and freeze the account until the issue has been resolved (IR No. 2).

Step 2: Collection & Processing

In the next stage of the intelligence cycle, teams collect the information needed to comprehensively answer their IRs from a variety of sources and process it to make it useful for analysis. The information gathered during this stage will serve as the building blocks of the analysis, so it is important to leave no stone unturned when it comes to collections sources, which can include internal datasets, open-source reporting, and data from the Deep & Dark Web (DDW).

Since fraudsters tend to coordinate and/or discuss their operations on DDW forums and marketplaces, data from these illicit online communities provides a useful starting point for gaining insight into fraudster TTPs. Moreover, an organization’s internal database of user activity is an indispensable resource for analyzing threat-actor behavior during known cases of ATO.

For example, to satisfy the IRs listed in Step 1, the team could gather information from the following sources:

• DDW forum and marketplace data, information-sharing communities, open-web sources, finished intelligence reporting on fraudster TTPs.

• IR No. 2: Internal databases and user activity logs, in addition to the sources listed for IR No. 1.

Processing requirements for the above data sources could include translating discussions in foreign-language forums and reducing the volume of raw data gathered from internal databases and activity logs.

Step 3: Analysis

After collecting and processing relevant information, teams are ready for the main event: combining, integrating, evaluating, and analyzing what they’ve gathered in order to satisfy their IRs.

Returning to our example, suppose our fraud team’s analysis led to the following findings with respect to their IRs to help them determine how financial losses caused by ATO fraud can be reduced:

• IR No. 1: DDW forum data revealed Russian-speaking fraudsters were sending phishing emails linking to a malicious site designed to resemble the bank’s online portal, prompting customers to provide their username and password to resolve an urgent issue. The phishing emails were sent to a targeted list of the bank’s customers purchased on a DDW marketplace.

• IR #2: Analysis of account activity during known instances of ATO provide insight into behavioral indicators of ATO, including multiple login attempts, password resets, the use of an unrecognized device, and large amounts of money being transferred to one or more accounts belonging to other individuals.

Step 4: Production

Once their analysis is complete, teams communicate it by producing finished intelligence reports. As the primary output of the intelligence cycle, finished intelligence should be actionable and easily digestible by a wide range of stakeholders, ranging from C-level business leaders to analysts and SOC personnel at the front lines of defense.

Fraud teams often need stakeholder buy-in to take action based on their analysis. As such, to deliver return on investment and have a meaningful impact on anti-fraud efforts through their research, they must be able to effectively produce clear and concise intelligence reports that satisfy IRs.

In our example, we could summarize the content of the finished intelligence report as follows:

• IR No. 1: Russian-speaking cybercriminals are targeting customer accounts in ATO schemes that rely on sending a high volume of phishing emails, DDW forum and marketplace data, information-sharing communities, open-web sources, finished intelligence reporting on fraudster TTPs.

• IR No. 2: Telltale indicators of ATO activity include multiple login attempts, password resets, the use of an unrecognized device, and the transferring large sums of money to other accounts.

Step 5: Dissemination & Feedback

Since the overarching purpose of intelligence is to inform decisions, it is crucial that finished intelligence reports are effectively distributed to and consumed by their intended audience, which can include a wide range of stakeholders, from tactical security personnel such as SOC analysts to C-level strategic leaders such as the chief information security officer. This stage also provides stakeholders with an with an opportunity to close the feedback loop with guidance for future IRs.

Returning one last time to our example, suppose the dissemination of the fraud team’s finished intelligence report leads to the following stakeholder actions and feedback:

• To combat fraudsters’ use of malicious sites to trick users into providing their account credentials, the company implements verification measures to help customers discern decoy websites designed to resemble the online banking portal (IR No. 1).

• The CISO asks the fraud team to work with the SOC team to investigate how targeted list of customers’ email addresses ended up on a Russian-language DDW forum in the first place (IR No. 1).

• Based on the telltale indicators of ATO activity described in the report (IR No. 2), the team responsible for securing the customer portal updates the parameters for automatically freezing an account due to suspicious activity.

As fraudsters evolve their tactics to subvert existing anti-fraud controls, the intelligence cycle serves as a continuous process for answering newly uncovered questions on how to combat emerging tactics.

Click here to learn more about how fraud teams leverage Flashpoint’s business risk intelligence (BRI) to address challenges and meet their objectives.

Flashpoint Intelligence Brief

Subscribe to our newsletter to stay up-to-date on our latest research, news, and events