Future of Threat Intelligence

CyberHoot's Craig Taylor on Why Fear-Based Phishing Training Fails

Psychology beats punishment when building human firewalls. Craig Taylor, CEO & Co-founder of CyberHoot, brings 30 years of cybersecurity experience and a psychology background to challenge the industry's fear-based training approach. His methodology replaces "gotcha" phishing simulations with positive reinforcement systems that teach users to identify threats through skill-building rather than intimidation.
Craig also touches on how cybersecurity is only 25 years old compared to other fields, like medicine's centuries of development, leading to significant industry mistakes. NIST's 2003 password requirements, for example, were completely wrong and took 14 years to officially retract. Craig's multidisciplinary approach combines psychology with security practice, recognizing that the industry's single-focus mindset contributed to these fundamental errors that organizations are still correcting today.
Topics discussed:
Replacing fear-based phishing training with positive reinforcement systems that teach threat identification through skill-building.
Implementing seven-point email evaluation frameworks covering sender domain verification, emotional manipulation detection, and alternative communication verification protocols.
Developing 3- to 5-minute gamified training modules that reward correct threat identification across specific categories.
Correcting cybersecurity industry misconceptions through multidisciplinary approaches.
Evaluating emerging security technologies like passkeys through industry backing analysis.
Building human firewall capabilities through psychological understanding of manipulation tactics.
Implementing pause-and-verify protocols to confirm unusual requests that pass technical email verification checks.
Key Takeaways: 
Replace punishment-based phishing simulations with positive reinforcement training that rewards users for correctly identifying threat indicators.
Implement gamified security training modules instead of lengthy video sessions to maintain user engagement.
Establish pause-and-verify protocols requiring alternative communication channels to confirm unusual requests that pass technical email verification checks.
Evaluate emerging security technologies by examining industry backing and major sponsor adoption before incorporating them into training programs.
Calibrate reward systems to provide minimal incentives (like monthly lunch gift cards) that drive engagement without creating external dependency.
Train users to identify the seven key phishing indicators: sender domain accuracy, suspicious subject lines, inappropriate greetings, poor grammar, external links, questionable attachments, and emotional urgency tactics.
Build internal locus of control in security training by focusing on skill mastery rather than fear-based compliance, ensuring users understand why security practices protect them personally.
Deploy fully automated security training systems that eliminate administrative overhead while maintaining month-to-month flexibility and offering discounts to educational and nonprofit organizations.
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The Futurum Group's Fernando Montenegro on the OODA Loop Approach to Security Strategy

What happens when you apply economic principles like opportunity cost and comparative advantage to cybersecurity decision-making? Fernando Montenegro, VP & Practice Lead of Cybersecurity at The Futurum Group, demonstrates how viewing security through an economics lens reveals critical blind spots most practitioners miss. His approach transforms how organizations evaluate cloud migrations, measure program success, and allocate security resources.
Fernando also explains why cybersecurity has evolved from a technical discipline into a socioeconomic challenge affecting society at large. His three-part framework for AI implementation — understanding the technology, mapping business needs, and assessing threat environments — offers security leaders a structured approach to cutting through hype and making strategic decisions. 
Topics discussed:
How security economics and opportunity cost analysis reshape cloud migration decisions and resource allocation strategies
The National Academies' 2025 "Cyber Hard Problems" report and its implications for cybersecurity's expanding societal impact
A three-part framework for AI implementation: technology comprehension, business alignment, and threat environment assessment
Why understanding organizational business operations eliminates the biggest blind spot in threat intelligence programs
Multi-layered professional networking strategies for separating signal from noise in threat intelligence analysis
How cloud environments fundamentally change threat intelligence workflows from IP-based to identity and architecture-focused approaches
Key Takeaways: 
Apply economic opportunity cost analysis to security decisions by evaluating what you give up versus what you gain from each security investment.
Map your organization's business operations across marketing, sales, and product development to provide crucial context for technical threat intelligence.
Assess AI implementations through a three-part framework: technology limitations, business use cases, and specific threat considerations.
Measure security program success by evaluating alignment with organizational goals and influence on non-security business decisions.
Run intentional OODA loops on your security program to maintain strategic direction and continuous improvement.
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T. Rowe Price’s PJ Asghari’s "What, So What, Now What" Framework for Threat Intel

What does it take to transform a traditional event-driven SOC into an intelligence-driven operation that actually moves the needle? At T. Rowe Price, it meant abandoning the "spray and pray" approach to threat detection and building a systematic framework that prioritizes threats based on actual business risk rather than industry hype.
PJ Asghari, Team Lead for Cyber Threat Intelligence Team, walked David through their evolution from a one-person intel operation to a program that directly influences detection engineering, fraud prevention, and executive decision-making. His approach centers on the "what, so what, now what" framework for intelligence reporting — a simple but powerful structure that bridges the gap between technical analysis and business action.
Topics discussed:
Moving beyond event-based monitoring to prioritize threats based on sector-specific risk profiles and threat actor targeting patterns rather than generic threat feeds.
Focusing on financially-motivated actors, initial access brokers, and PII theft rather than nation-state activities that rarely target mid-tier financial firms directly.
Addressing the cross-functional challenge that spans HR, talent acquisition, insider threat, and CTI teams.
Using mise en place principles from culinary backgrounds to establish clear PIRs that align team focus with organizational needs.
Creating trackable deliverables through ticket systems, RFI responses, and cross-team support that translates intelligence work into measurable business impact.
Maintaining critical thinking and media literacy skills while leveraging automation for administrative tasks and threat feed processing.
Key Takeaways: 
Implement the "what, so what, now what" reporting structure to ensure intelligence reaches appropriate audiences with clear business implications and recommended actions.
Build cross-functional relationships with fraud, insider threat, and vulnerability management teams to create measurable value through ticket creation and support requests rather than standalone reporting.
Establish sector-specific threat prioritization by mapping threat actors to your actual business model rather than following generic industry threat landscapes.
Create trackable metrics through service delivery, including RFI responses, expedited patching recommendations, and credential compromise notifications to demonstrate concrete value.
Focus hiring on inquisitive mindset and communication skills over certifications, using interviews to assess critical thinking and ability to dig deeper into investigations.
Map threat actor TTPs to MITRE framework to identify defense stack gaps and provide actionable detection engineering guidance rather than just IOC sharing.
Invest in dark web monitoring and external attack surface management for financial services to catch credential compromises and brand abuse before they impact customers.
Establish regular threat actor recalibration cycles to ensure prioritization remains aligned with current threat landscape rather than outdated assumptions.
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Transcend's Aimee Cardwell on Turning Security into a Growth Driver

Most security leaders position themselves as guardians against risk, but Aimee Cardwell, CISO in Residence at Transcend and Board Member at WEX, built her reputation on a different approach: balancing risk to accelerate business growth. Her unconventional path from Fortune 5 CIO to CISO of a 1,200-person security team at UnitedHealth Group showcases how technical leaders can become true business partners rather than obstacles.
Managing two company acquisitions every month, Aimee tells David how she developed a shifted-left security integration process that actually accelerated deal timelines while improving security outcomes. Her framework for risk appetite conversations moves executives beyond fear, uncertainty and doubt into productive discussions about cyber resilience, changing how organizations think about security investment and business enablement.
 
Topics discussed:
How healthcare data regulations create complex compliance frameworks where companies must selectively forget customer information based on overlapping regulatory requirements.
The transferable advantages CIOs bring to CISO roles, particularly in software development lifecycle security and communicating complex technical concepts to non-technical stakeholders.
Shifting security strategy from risk prevention to intelligent risk balancing, enabling business growth while maintaining appropriate protection levels.
Managing large-scale acquisition security integration through pre-closing requirements that accelerate post-acquisition security improvements.
Establishing organizational risk appetite through worst-case scenario planning that moves leadership past emotional responses into rational decision-making frameworks.
Developing cyber resilience strategies that assume incident occurrence and focus on recovery speed and impact minimization rather than just prevention.
Scaling security controls based on business growth milestones, avoiding upfront overinvestment while ensuring appropriate protection as companies expand.
Building consensus-driven risk acceptance frameworks while managing competing perspectives from multiple C-level executives and board members.
Key Takeaways: 
Implement pre-closing security requirements for acquisitions, shifting security integration 45 days before deal completion to accelerate post-acquisition timelines.
Frame risk conversations around worst-case scenario analysis, using real examples and stock performance data to move executives past emotional responses and build resiliency.
Develop tiered security controls that scale with business growth, implementing basic protections early and adding complexity as revenue and user bases expand.
Position regulatory compliance as a competitive advantage and trust-building mechanism rather than a business constraint.
Create "how do we get to yes" frameworks that start with business objectives and work backward to appropriate risk mitigation strategies.
Use customer trust metrics and retention data to demonstrate security's direct contribution to business growth and competitive positioning.
Leverage software development lifecycle experience to integrate security into engineering processes rather than treating it as an external validation step.
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Digital Asset Redemption's Steve Baer on Criminal Business Models

The economics of ransomware reveal a sophisticated criminal enterprise that most security leaders dramatically underestimate. Steve Baer, Field CISO at Digital Asset Redemption, operates at the intersection of cybercrime and legitimate business, where his team's human intelligence gathering in Dark Web communities provides early warning systems that traditional security infrastructure cannot match. His insights into criminal business models, negotiation psychology, and the financial flows funding modern cybercrime offer a perspective rarely available to security practitioners.
Steve walks David through Digital Asset Redemption's evolution from facilitating compliant cryptocurrency payments to building comprehensive threat intelligence capabilities using native speakers who maintain long-term relationships with criminal actors. His team's approach has enabled them to identify targeting intelligence before attacks occur and, in one notable case, leverage personal information about an attacker to secure free decryption keys for a nonprofit organization.
Topics discussed:
The ransomware-as-a-service ecosystem where criminal affiliates can launch operations for $40-200 monthly subscriptions and achieve 10% success rates, generating millions in revenue.
How Dark Web markets extend beyond stolen credentials to include zero-day vulnerabilities starting at $100,000, access broker services targeting specific organizations, and complete compromise kits for enterprise security tools.
The organizational structures of criminal enterprises that mirror RICO-era mafia operations through loose affiliations rather than hierarchical control, making traditional law enforcement approaches ineffective.
Negotiation psychology and tactics used in ransom discussions, including the business incentives that motivate threat actors to provide working decryption keys and maintain operational reputation.
Financial models underlying cybercrime operations, including revenue sharing with affiliate programs, bonus structures for successful targeting, and the necessity of cryptocurrency laundering services.
Market indicators for measuring criminal enterprise growth, including quarterly analysis of unique threat actor groups, highest ransom demands, and seasonal patterns in retail-focused attacks.
Human intelligence gathering techniques using multiple personas and native language speakers to build long-term relationships within criminal communities for early warning capabilities.
The economic realities that enable small criminal teams to generate substantial revenue while operating from countries where attacking American institutions is legally encouraged rather than prosecuted.
Why technical compliance frameworks provide insufficient protection against adversaries who can purchase complete compromise capabilities for mainstream security technologies.
Key Takeaways: 
Implement human intelligence capabilities to complement technical security controls, recognizing that criminal innovation often outpaces defensive technology deployment.
Understand the true economics of ransomware operations, where criminal affiliates can achieve substantial returns with minimal upfront investment through established service models.
Prepare comprehensive incident response plans that include professional negotiation capabilities, legal frameworks for attorney-client privilege, and understanding of criminal psychology.
Monitor Dark Web markets not just for credential exposure but for targeting intelligence, access broker activity, and the availability of compromise kits specific to your security stack.
Establish relationships with specialized incident response firms before needing them, understanding that ransom negotiations require specific expertise and cannot be effectively handled internally.
Focus security education on understanding adversarial capabilities and business models rather than solely on compliance requirements or singular technology solutions.
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McAfee's Manisha Agarwal-Shah on Testing Ransomware Plans Before You Need Them

Most security leaders are fighting yesterday's ransomware war while today's attackers have moved to data exfiltration and reputation destruction. Manisha Agarwal-Shah, Deputy CISO at McAfee, brings 18 years of cybersecurity experience from consulting through AWS to explore why traditional ransomware defenses miss the mark against modern threat actors. Her framework for building security teams prioritizes functional coverage over deep expertise, ensuring organizations can respond to crises even when leadership transitions occur.
Manisha tells David how privacy regulations like GDPR actually strengthen security postures rather than create compliance burdens. She also shares practical strategies for communicating technical threats to C-suite executives and explains why deputy CISO roles serve organizational continuity rather than ego management. Her insights into ransomware evolution trace the path from early scareware through encryption-based attacks to today's supply chain infiltration and data theft operations.
 
Topics discussed:
The evolution of ransomware from opportunistic scareware to sophisticated supply chain attacks targeting high-value organizations through trusted vendor relationships.
Building security team structures that prioritize functional coverage across cyber operations, GRC, and product security rather than pursuing deep expertise in every domain.
The strategic role of deputy CISO positions for organizational continuity and crisis leadership when primary security executives are unavailable or in transition.
How privacy regulations like GDPR, HIPAA, and PCI DSS create security baselines that complement rather than conflict with proactive defense strategies.
Communicating technical ransomware risks to non-technical executives through business impact frameworks and regular steering committee discussions.
AI-driven behavioral anomaly detection capabilities for identifying unusual file encryption patterns and suspicious process activities before damage occurs.
Comprehensive ransomware response planning including executive battle cards, offline playbook storage, and tested communication channels for network-down scenarios.
The shift from encryption-based ransomware to data exfiltration and reputation damage attacks that bypass traditional backup and recovery strategies.
Cloud security posture management implementations for organizations operating in hybrid on-premises and cloud environments.
Data retention and minimization strategies that reduce blast radius during security incidents while maintaining regulatory compliance requirements.
 
Key Takeaways: 
Document a comprehensive ransomware response plan that includes executive battle cards for each C-suite role and store it in offline, restricted locations accessible when networks are compromised.
Test your ransomware playbook regularly with all key decision makers in simulated scenarios to ensure everyone understands their roles and responsibilities during actual incidents.
Build security teams with functional coverage across cyber operations, GRC, and product security rather than pursuing deep expertise in every domain when resources are limited.
Establish deputy CISO roles for organizational continuity and crisis leadership, ensuring someone can engage executives and coordinate incident response when primary leadership is unavailable.
Communicate technical ransomware threats to non-technical executives through business impact frameworks that translate technical risks into financial and reputational consequences.
Implement AI-driven behavioral anomaly detection systems that can identify unusual file encryption patterns and suspicious process activities before ransomware damage occurs.
Deploy immutable backup solutions as one layer of defense, but recognize they won't protect against data exfiltration and reputation-based ransomware attacks.
Leverage privacy regulations like GDPR, HIPAA, and PCI DSS as security baselines that provide data minimization, retention limits, and protection requirements.
Create pre-established relationships with cyber insurance brokers, forensics providers, breach response teams, and public relations firms before ransomware incidents occur.
Focus on cloud security posture management tools to identify misconfigurations and external exposures in hybrid cloud environments targeted by threat actors.
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Team Cymru's Threat Researchers on Operation Endgame Intelligence

Team Cymru's threat researchers have spent years developing an almost psychological understanding of cybercriminals, tracking their behavioral patterns alongside technical infrastructure to predict where attacks will emerge before they happen. Josh and Abigail share with David how their multi-year tracking of Russian cybercrime groups enabled critical contributions to Operation Endgame. Their work demonstrates how sustained intelligence gathering creates opportunities for law enforcement victories that reactive security cannot achieve.
Drawing from Josh's eight years at Team Cymru and background in law enforcement national security investigations, and Abigail's specialization in Russian cybercrime tracking, they reveal how NetFlow telemetry provides unprecedented visibility into criminal operations. Their approach goes far beyond traditional indicator-based threat intelligence, focusing instead on understanding the human patterns that drive criminal infrastructure deployment and management.
Topics discussed:
The evolution of Team Cymru's threat research mission from ad hoc investigations to formalized self-tasking teams.
How NetFlow telemetry enables upstream infrastructure mapping that reveals criminal backend systems invisible to traditional security tools.
The behavioral analysis techniques that distinguish between different criminal operators based on work schedules, personal browsing habits, and infrastructure access patterns.
Why collaboration between private sector researchers and law enforcement requires transparency and trust-building rather than hoarding intelligence behind restrictive sharing classifications.
How Operation Endgame demonstrated the effectiveness of combining multiple organizational perspectives on the same threats, with each contributor providing unique visibility into different attack components.
The measurement challenges in threat research success when outcomes depend on external decision-makers and sensitive operations may not publicly acknowledge private sector contributions.
Why financially motivated threat actors are shifting from mass spray-and-pray campaigns to more targeted, higher-payout operations.
How click-fix attacks exploit human psychology by convincing victims to execute malicious commands themselves.
The dual-edged impact of AI on cybercrime, lowering barriers to entry for malicious actors while simultaneously enabling more sophisticated social engineering and automation capabilities.
Why security awareness training must evolve beyond identifying typos and obvious phishing indicators to address AI-generated content and sophisticated impersonation techniques.
Key Takeaways: 
Build long-term tracking capabilities that focus on understanding threat actor behavior patterns rather than chasing individual indicators or campaigns.
Implement NetFlow telemetry analysis to identify upstream infrastructure connections that reveal criminal backend systems before they're deployed operationally.
Develop collaborative relationships with law enforcement and private sector partners based on transparency and shared mission objectives.
Create threat research teams with self-tasking authority to focus on societally important threats rather than customer-driven priorities that may miss critical criminal activity.
Establish behavioral profiling techniques that distinguish between different criminal operators based on work patterns, personal interests, and infrastructure access methods.
Invest in sustained intelligence gathering capabilities that track threat actors across multiple campaigns and infrastructure changes over extended periods.
Prepare for the increasing sophistication of click-fix attacks by educating users about command execution risks and implementing controls that detect suspicious copy-paste activities.
Develop AI-aware security awareness training that addresses deepfake voice calls, sophisticated impersonation techniques, and realistic-looking malicious websites.
Build measurement frameworks for threat research success that account for external decision-making timelines and sensitive operation requirements.
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Lemonade's Jonathan Jaffe on Trading Feedback for Security Technology

Jonathan Jaffe, CISO at Lemonade, has built what he predicts will be "the perfect AI system" using agent orchestration to automate vulnerability management at machine speed, eliminating the developer burden of false positive security alerts. His unconventional approach to security combines lessons learned from practicing law against major tech companies with a systematic strategy for partnering with security startups to access cutting-edge technology years before competitors.
Jonathan tells David a story that showcases how even well-intentioned people will exploit systems if they believe they won't get caught or cause harm, which has shaped his approach to insider threat detection and the importance of maintaining skeptical oversight of automated security controls. His team leverages AI agents that automatically analyze GitHub Dependabot vulnerabilities, determine actual exploitability by examining entire code repositories, and either dismiss false positives or generate proof-of-concept explanations for developers.
Topics discussed:
The evolution from traditional security approaches to AI-powered agent orchestration that operates at machine speed to eliminate false positive vulnerability alerts.
Strategic partnerships with security startups as design partners, trading feedback and data for free access to cutting-edge technology while helping shape market-ready products.
Policy-based security enforcement for cloud-native environments that prevents the need to manage individual pods, containers, or microservices through automated compliance checks.
How legal experience prosecuting tech companies provides unique insights into adversarial thinking and the psychology behind insider threats and system exploitation.
Implementation of AI vulnerability management systems that automatically ingest CVEs, analyze code repositories for exploitable methods, and generate proof-of-concept explanations for developers.
Risk management strategies for adopting startup technology by starting small in non-impactful areas and gradually building trust through demonstrated value and reliability.
Transforming security operations from reactive vulnerability patching to proactive automated threat prevention through intelligent agent-based systems.
Key Takeaways: 
Implement policy-based security enforcement for cloud environments to automate compliance across all deployments rather than managing individual pods or containers manually.
Partner with security startups as design partners by trading feedback data for free access to cutting-edge technology while helping them develop market-ready products.
Build AI agent orchestration platforms that automatically ingest GitHub Dependabot CVEs, analyze code repositories for exploitable methods, and dismiss false positive vulnerability alerts.
Begin startup technology adoption in low-risk or non-impactful areas to build trust and demonstrate value before expanding to critical security functions.
Establish relationships with venture capital communities to gain early access to portfolio companies and emerging security technologies before mainstream adoption.
Apply healthy skepticism to security controls by recognizing that even well-intentioned employees may exploit systems if they believe they won't cause harm or get caught.
Focus AI development efforts on automating time-intensive security tasks that typically require many days of manual developer work into machine-speed operations.
Evaluate business risk first before pursuing legal or compliance actions by calculating whether the effort investment justifies potential outcomes and settlements.
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Digital Turbine's Vivek Menon on AI Acceleration vs Attack Expansion

The security industry's obsession with cutting-edge threats often overshadows a more pressing reality: the vast majority of organizations are still mastering basic AI implementation. Vivek Menon, CISO & Head of Data at Digital Turbine, brings his insights from the RSA expo floor to share why the agentic AI security rush may be premature, while highlighting the genuine opportunities AI presents for resource-constrained security teams.
Vivek shares with David how smaller organizations can leverage AI automation to achieve enterprise-level security capabilities without corresponding budget increases. His balanced approach to AI security threats demonstrates why defenders maintain strategic advantages over attackers, despite the expanded attack surface that dominates industry discussions.
 
Topics discussed:
Why the agentic AI security market represents a classic "horse before the cart" scenario, with vendors solving problems for the 1% of enterprises building agents while 99% are still evaluating basic AI adoption.
How the rush toward AI agents is forcing long-overdue conversations about non-human identity management, which lacks pace and scale in implementation.
The strategic advantage defenders maintain in AI-powered security conflicts, leveraging time-based preparation capabilities while attackers face immediate success requirements with limited development windows.
The dual nature of AI security impact, balancing genuine attack surface expansion against significantly enhanced defensive capabilities.
Distinguishing between legitimate security innovation and buzzword-driven marketing, focusing on practical implementation readiness over theoretical capability demonstrations.
How programmatic advertising technology companies navigate unique security challenges while maintaining operational efficiency in highly automated, data-driven business environments.
 
Key Takeaways: 
Evaluate vendor AI solutions by asking what percentage of your industry actually uses the underlying technology before investing in security tools for emerging threats.
Prioritize non-human identity management initiatives now, as the shift toward AI agents will expose existing gaps in identity governance at scale.
Leverage AI automation to achieve enterprise-level security capabilities without proportional budget increases, especially for resource-constrained organizations.
Adopt AI as a defensive accelerator rather than viewing it primarily as an attack surface expansion problem.
Invest time in comprehensive threat protection strategies, capitalizing on defenders' advantage over attackers who must succeed immediately.
Assess your organization's AI maturity before implementing agentic AI security solutions, ensuring you're solving actual rather than theoretical problems.
Focus security budgets on mainstream technology threats affecting 99% of enterprises rather than cutting-edge solutions for the 1%.
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Digital Asset Redemption's Steve Baer on Why Half of Ransomware Victims Shouldn't Pay

Most organizations approach ransomware as a technical problem, but Steve Baer, Field CISO at Digital Asset Redemption, has built his career understanding it as fundamentally human. His team's approach highlights why traditional cybersecurity tools fall short against motivated human adversaries and how proactive intelligence gathering can prevent incidents before they occur.
Steve's insights from the ransomware negotiation business challenge conventional wisdom about cyber extortion. Professional negotiators consistently achieve 73-75% reductions in ransom demands through skilled human interaction, while many victims discover their "stolen" data is actually worthless historical information that adversaries misrepresent as current breaches. Digital Asset Redemption's unique position allows them to purchase stolen organizational data on dark markets before public disclosure, effectively preventing incidents rather than merely responding to them.
Topics discussed:
Building human intelligence networks with speakers of different languages who maintain authentic personas and relationships within dark web adversarial communities.
Professional ransomware negotiation techniques that achieve consistent 73-75% reductions in extortion demands through skilled human interaction rather than automated responses.
The reality that less than half of ransomware victims require payment, as many attacks involve worthless historical data misrepresented as current breaches.
Proactive data acquisition strategies that purchase stolen organizational information on dark markets before public disclosure to prevent incident escalation.
Why AI serves as a useful tool for maintaining context and personas but cannot replace human intelligence when countering human adversaries.
Key Takeaways: 
Investigate data value before paying ransoms — many attacks involve worthless historical information that adversaries misrepresent as current breaches.
Engage professional negotiators rather than attempting DIY ransomware negotiations, as specialized expertise consistently achieves 73-75% reductions in demands.
Build relationships within the cybersecurity community since the industry remains small and professionals freely share valuable threat intelligence.
Deploy human intelligence networks with diverse language capabilities to gather authentic threat intelligence from adversarial communities.
Assess AI implementation as a useful tool for maintaining context and personas while recognizing human adversaries require human intelligence to counter.
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