Understanding Cyber Whaling Phishing: The Big Catch in Cybersecurity

Imagine you’re in a position where you handle classified information or large sums of money. One day, you receive an email that appears to be from your boss or an authority figure. The email reads:

“Hey, I am about to board the plane. We are late in our payment to Vendor X. Please wire $1 million to them immediately to this account, or we will lose their service.”

You know your boss is attending a business conference overseas. The vendor is legitimate, the writing style matches your boss’s, and the email address looks correct. How did all this happen?

What is Cyber Whaling? Understanding the Cyber Threat

This scenario is a classic example of “whaling phishing” where cyber attackers use sophisticated, targeted threats to deceive high-ranking individuals in an organization. These attacks can come from various sources, such as email, text messages, or phone calls. They aim to trick high-profile targets into authorizing large payments or sharing sensitive information by impersonating executives, directors, or even trusted partners. If you have special access to an organization, are in a management position, or have authority over individuals, you could become a target. Even if you aren’t a ‘high-profile target’ or a ‘big fish,’ cyber attackers may still impersonate your superiors to extract confidential information from you, so please stay vigilant.

How Do Whaling Attacks Work? A Closer Look at These Sophisticated Cyber Attacks

Attackers can use social media platforms like Facebook, Instagram, or LinkedIn to research and make connections. While these platforms are great for networking and staying updated with friends and colleagues, they can also be exploited by hackers trying to gather information and find work or professional email addresses. They then manipulate or spoof the email account to carry out theft, fraud, or even blackmail. They will use legitimate personal information or make the email appear to come from a vendor’s account to make the message seem more credible.

Why Do Whaling Attacks Happen? Uncovering the Motives Behind Targeted Scams

Although whaling attacks require more time and effort, they can yield significantly higher returns than standard phishing emails. The personalized nature of these emails allows them to bypass some phishing filters. Once the message reaches you, it appears more credible because it seems to come from senior management or authority figures, making it seem more trustworthy. The potential access to sensitive information and financial resources makes whaling a highly attractive method for cyber criminals, despite the increased effort and time required.

Protect Yourself: Strategies to Guard Against Whaling Phishing Scams

• To protect yourself from whaling phishing scams, always be on the lookout for indicators of a phishing attempt. Check for signs such as urgency, suspicious content, incorrect email addresses, and grammatical errors. More information about phishing can be found here.
• Be cautious about what you share on social media. Every time you post on social media or fill out a personality quiz, more personal information about you becomes available online.
• Be mindful of the information you share publicly to minimize the risk of it being used against you in a phishing attack.