May 9, 2019

It’s Time for a Change – by Doug Dangremond

Blog post by Doug Dangremond, Sr. Vice President of Sales, on why he joined 4iQ.

On the path of life we occasionally find that the road before us diverges. I recently arrived at just such a crossroads and was faced with a difficult decision. One path was familiar, comfortable, well-known to me – the other far less so. In the words of Robert Frost, “I took the one less traveled.”

The path I chose was to join 4iQ.

I was attracted to its slogan, which featured a term that I was less familiar with: “Identity Intelligence.” The phrase “Threat Intelligence” is common within the industry, but this subtle difference piqued my interest. I found that identity intelligence goes much further than mere threat intelligence. Not only does identity intelligence allow 4iQ to be able to protect businesses, business people, and consumers, but it’s able to simultaneously empower investigators and companies to attribute sources as well. With so many threat intelligence companies in the market, this facet of differentiation made 4iQ unique.

Looking at breach data may involve looking through billions of records – email addresses, password combinations, IP addresses, domain names, and other various forms of personally identifiable information (PII). Bad actors covet this data as a resource, as tools for malicious activity that can be used for fraud and other forms of cybercrime. It can be incredibly daunting to sift through the sheer volume of data, especially for the uninitiated.

Fortunately, 4iQ has developed a brilliant solution to aid in the process.

Ironically, a bad actor’s digital footprint is contained in the very same breached data. By applying the use of analytical tools and investigative work by experts, 4iQ has developed a way to unmask bad actors as quickly as you can type your name into a Google search. Not only does this allow 4iQ to provide attribution for companies, but the process itself vastly decreases the time for discovery and significantly reduces the costs typically associated with lengthy investigations. Financial companies have especially benefited, as this has resulted in a massive reduction in fraud losses for 4iQ customers. One customer has stated that they have already saved more than $100 million within one year.

The difference between 4iQ and mere threat intelligence providers is that 4iQ delivers a capability to not only unmask bad actors instantaneously, but also to establish the relationship between those bad actors and threat groups, empowering investigators to take action. Whereas most companies tout threat intelligence as a means to provide indicators of security compromises or threat actor behaviors, 4iQ enables analysts to uncover bad actors in real time so that action can be taken to stop financial crime, prevent money laundering, and protect against account takeovers. While threat intelligence can be useful for improving a company’s security posture, it still functions as a purely reactive measure. Identity intelligence, on the other hand, allows a company to not only react to threats, but to eliminate the source of a problem.

Cybersecurity is becoming an increasingly important aspect of security – both personal and corporate. Our lives are becoming more and more intertwined in the digital world. A world of apps on our smartphones has led to cross-platform digital integration at a staggering level. The objects around us are becoming increasingly intertwined as well, in what has been dubbed the “internet of things.” We’re getting a taste of it with Alexa and Siri, but it might not be long before most appliances in our homes are similarly integrated.

The more we come to rely on technology, the more vulnerable we become to the threats posed by malicious cyber-attacks.

The future of cybersecurity cannot be one of purely reactive protection – it has to become proactive, and an important part of that involves providing identity intelligence. We will forever be under threat if we cannot identify those who would do us harm. The industry has to change, and 4iQ is at the forefront of that change.

All too often, we are hesitant to make changes within our lives. In our careers, fear of change can lead to complacency and stagnation. In our businesses, it can lead to losses in the millions of dollars, particularly when cyber security is on the line. To once again reference Robert Frost, I made a change, and it has made “all the difference.”