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Josh Lefkowitz
Chief Executive Officer
Josh Lefkowitz executes the company’s strategic vision to empower organizations with the fastest, most comprehensive coverage of threatening activity on the internet. 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 / Chief Product Officer
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.
Chris Camacho
Chief Revenue Officer
As Chief Revenue Officer, Chris Camacho leads the company’s global sales team, which includes solution architecture, business development, strategic integrations, partnerships, and revenue operations; he is also the architect of Flashpoint’s 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.
Donald Saelinger
President
Donald Saelinger is responsible for driving strategic and operational initiatives to accelerate Flashpoint’s growth and scale. In this role, Donald leads a broad portfolio including Marketing, Customer Success, Revenue Operations, Legal and related functions, and is focused on helping the company execute on a go-to-market approach that maximizes value to our customers. Prior to Flashpoint, Donald served as Chief Operating Officer and General Counsel of Endgame, Inc., an endpoint detection and response company acquired by Elastic N.V. in 2019, and where he led a range of teams focused on growth, scale, and legal and compliance matters. Donald also previously served as the General Counsel and Chief Compliance Officer at Opower, Inc. (NYSE: OPWR), a global provider of SaaS solutions to electric and gas utilities that was acquired by Oracle, Inc. in 2016. Donald graduated from Columbia University in 2000 and received his JD from the Georgetown University Law Center in 2006.
Rob Reznick
SVP 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.
Tom Hofmann
SVP 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
SVP Solutions 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
SVP Strategy and 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 sales, marketing, partnerships, customer success, and finance 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.
Peter Partyka
VP Engineering
Peter Partyka leads Flashpoint’s engineering teams. Peter previously worked in the quantitative hedge fund space in New York City, implementing security and administrative solutions around proprietary trading platforms, high-availability cloud deployments, and hardening of applications and infrastructure. Peter leverages more than 16 years of experience in technology specializing in application security, red-teaming, penetration testing, exploit development, as well as blue-teaming. Peter has a long track record of managing tech teams and implementing engineering security best practices. Recently Peter led Flashpoint toward GDPR and CCPA compliance and has been a key architect of Flashpoint’s robust compliance programs. Peter has taught advanced cybersecurity courses at New York University and consulted at various tech startups during his career.
Paul Farley
VP APAC Sales
Paul Farley is responsible for the Asia-Pacific region of Flashpoint's international business, including Australia, Japan, and Singapore. In his role at Flashpoint, Paul is executing growth-oriented sales strategies across multiple countries and vertical markets, including both Government and Commercial. Paul has extensive experience leading regional sales for both pre-IPO growth businesses and large organizations such as RSA, EMC and DELL.
Steven Cooperman
VP Public Sector Sales
Steven Cooperman is responsible for Flashpoint’s strategy and sales growth of its public sector business. He also supports the development of a robust partner ecosystem for public sector business to deliver value added offerings and innovation focused to the mission of government. Steven has an established and diverse career in the Public Sector, holding leadership positions at a number of successful enterprise software companies and Federal System Integrators, including ServiceNow, HP, Oracle and Northrop Grumman. He holds an MA in Analytic Geography from the State University of New York - Binghamton, and received his BS in Geology from the State University - Oneonta.
Matthew Howell
VP Product
Matthew Howell leads the Product Management and Product Marketing teams for Flashpoint. He is responsible for developing a strong team that drives product adoption and user engagement through outcome based prioritization, continuous process improvement, and metrics driven development. Matthew brings a passion for diverse ideas, experience launching B2B SaaS products, building integration ecosystems, supporting five 9s SLAs, and leading distributed teams. He holds a bachelor’s degree in computer science from the University of Virginia
Glenn Lemons
Executive Director Strategic Accounts Engagement
Glenn Lemons is Executive Director, Strategic Accounts Engagement 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.
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.
Matt Devost
Currently, Devost serves as CEO & Co-Founder of OODA LLC as well as a review board member for Black Hat. In 2010, he co-founded the cybersecurity consultancy FusionX LLC which was acquired by Accenture in August 2015, where he went on to lead Accenture's Global Cyber Defense practice. Devost also founded the Terrorism Research Center in 1996 where he served as President and CEO until November 2008 and held founding or leadership roles at iDefense, iSIGHT Partners, Total Intel, SDI, Tulco Holdings, and Technical Defense.
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Top 10 Ransomware Trends: Board Responsibilities, Tracking Ransomware, and Mitigating Risk in 2022

Blog
April 4, 2022

From summer 2021 to early 2022, the ransomware ecosystem changed from high-profile, high-impact, big-game hunting activity to a period of relative quiet characterized by mid-level targets, higher ransom demands, and the first hacktivist ransomware attack on critical infrastructure. 

The ecosystem shift is primarily the result of three factors: the international notoriety of certain 2021 attacks (particularly Colonial Pipeline), subsequent law enforcement action (particularly the arrests of “REvil” members), and increased organizational and company security measures. Nevertheless, ransomware remains an active and lucrative venture, meaning that ransomware activity can be expected to continue through 2022, albeit at potentially different levels and with different tactics, techniques, and procedures (TTPs).

Here are 10 ransomware trends—from liability and insurance considerations to compliance issues, fiduciary duties, and cybersecurity measures—that boards should pay close attention to.

1) Ransomware targets will expand

Data for the ransomware landscape in 2021 showed a more diverse range of industries targeted by threat actors, in addition to a rise in the total number of organizations impacted. Over 4,000 companies were identified as having been breached last year, not including the many others that submitted to ransomers’ demands without publicization, which make this figure higher. 

Organizations in the United States, Canada, and Europe were most affected by ransomware, while critical infrastructure, health care, and government were among the wide range of industries attacked. As the ransomware landscape grows, it’s likely that the range of targets will grow with it.

Number of Ransomware Victims by Country, 2021

2) Threat actors will use several routes to successfully attack

2021 saw an increase in the severity of attacks on a technical level, with threat actors evolving from reliance on permanent data encryption to more aggressive methods. As tactics develop, it’s likely that ransomware attacks will consist of more components to increase the odds that the ransom will be paid. New methods include:

  • Coordinating ransomware attacks with major corporate events, like IPOs and M&A activity, to increase pressure on victim
  • Sharing victim’s names and confidential business data on victim-shaming sites
  • Hosting data sell-off auctions, which allow outside parties to also bid on victims’ data
  • Reaching out to media outlets and/or concerned stakeholders to publicize the attack and remove the opportunity for privacy

3) Liability risk for organizations will grow

With the increase in both the quantity and severity of ransomware attacks, the bodies that safeguard organizations in the event of a breach are struggling to keep up. Regulators, insurers, and stockholders are all experiencing the weight of 2021’s ransomware trends, which means that organizations should prepare for less support—and therefore, even more focus on strong prevention tactics.

4) Cyber insurance will not provide the protection it once did

Ransomware accounted for 75 percent of all claims against cyber insurance policies in 2021, up from 55 percent in 2016, showing a significant rise in its impact on insurance providers. In turn, premiums have seen annual increases of over 25 percent, while loss ratios are up 50 percent year-over-year.

The rapid boost in volume, pace, and cost of ransomware attacks has made it unsustainable for insurers to provide the same safety net they once did for organizations. As a result, insurance providers may follow AXA’s lead and revise policies to exclude ransomware payment reimbursement, which was implemented by the French insurance company in 2021. Boards should consider this as they plan their own insurance positioning and cyber defense expenditures in 2022.

5) Paying ransom may become impermissible under sanctions compliance law

The Office of Foreign Assets Control (OFAC) tried to slow the growth of criminal digital finance infrastructure in 2021 by discouraging private companies and citizens from paying ransom and extortion demands. Instead, they emphasized having strong defense measures to minimize the risk of a successful ransomware attack.

Before paying ransom, organizations must run OFAC and sanctions compliance checks to confirm the permissibility of sending payment under the law. This will lead to longer periods of time between attack, payment, and subsequent recovery, and will limit the types of events where payment is legally permissible. 

In light of this, directors should prioritize thorough understanding of OFAC guidance, and should ensure that compliance leaders incorporate this guidance into the organization’s cyber risk preparedness plan in 2022.

6) Public disclosure requirements will expand in 2022

Ransomware attack disclosure is presently not required by the U.S. Security and Exchange Commission (SEC) unless the attack meets a certain materiality threshold. However, the SEC is more closely scrutinizing disclosures, and holding victim organizations that choose not to disclose ransomware attacks, to a higher standard. Both federal regulators and individual states are considering laws that would require the public disclosure of ransomware events, although Flashpoint does currently view this as an imminent possibility.

Nevertheless, heightened attention on the part of regulating bodies to ransomware attacks and their subsequent public disclosure (or lack of) means that directors and legal teams should carefully monitor requirements. Public disclosure of attacks and ransom payments can significantly impact customer confidence, third-party relationships, and stock price, which makes the potential for obligatory disclosure especially important as organizations map out their prevention and defense protocols.

7) Directors will be held to a higher fiduciary standard

2021 trends have indicated that the fiduciary duties of directors during ransomware attacks will grow, holding them to a stricter level of responsibility in the event of a breach. For example, Delaware courts have recently continued the expansion of directors’ obligations related to both ransomware attacks and cybersecurity attacks overall, validating in a recent case that directors have a responsibility to oversee cybersecurity in response to a large data breach claim from Marriott in October 2021 (Fire Ret. Sys. of St. Louis v. Sorenson, et al., (Del. Ch. Oct. 5, 2021)).

8) Boards must proactively oversee cybersecurity measures

Trends related to the specifics of ransomware attacks have provided boards with clear action items as they consider how to best support their organizations in preventing breaches. Namely, they should concern themselves with the following areas of their companies’ prevention and mitigation plans:

  • Defend: Ensure companies are prepared to defend through investment in cybersecurity infrastructure, inclusion of cybersecurity in organization’s overall risk management framework, empowerment of security teams in the form of budget and autonomy, and the compulsion of security best practices.
  • Prepare: Prime organization to attack quickly and effectively in the event of an attack, which includes regular review of the organization’s incident response plan and knowledge of which data is most valuable to a company’s operations, and what the monetary cost would be of its loss and recovery.
  • Respond: Validate the careful and legal execution of attack response according to the predetermined plan.

9) Directors and boards will be called on to provide oversight during an attack

To ensure best practices are used during an attack, leaders will be responsible for promoting emotion-free execution of the incident response plan and positioning the organization for the best possible outcome. Especially important is confirmation that the company is complying with legal requirements, including OFAC and sanctions laws, and that the communication plans are followed so that all involved parties have their needs met.

10) Prevention is key

Given the enhanced abilities of threat actors and the tightening of disclosure and payment compliance requirements that will likely highlight 2022, directors should focus on the prevention of attacks as their main objective. Severity of the attacks coupled with significant negative consequences in the event of a public breach disclosure limit the guaranteed effectiveness of any response method. 

Instead, increased investment in prevention infrastructure, which includes broader cybersecurity infrastructure and general adoption of security best practices among all employees, will differentiate between companies that are able to preserve their critical data and companies that will need to deal with long lasting consequences of a breach.

This blog has been adapted from Flashpoint President Donald Saelinger’s article, “Board Responsibilities for Mitigating Ransomware Risk in 2022,” which originally appeared in the National Association of Corporate Directors (NACD) 2022 Governance Outlook. To download that report, click here.

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