What is a whaling attack in cybersecurity? definition, examples and how to prevent it

Written by Sid Collis from Bold IT

Put simply, a whaling attack is a highly targeted cyber scam aimed at senior company executives.

In today’s blog post, we’ll explain how they work, who’s at risk and how to protect against them.

What is a whaling attack in cyber security?

You may have heard of phishing emails, malicious messages that target individuals and employees to trick them into giving up sensitive information that can be exploited.

Whaling attacks fall under the phishing umbrella but are targeted specifically at high-level company executives such as CEOs, CFOs and other senior staff.

Unlike most phishing emails, whaling messages are often highly personalised and made to look like they come from trusted contacts and partners.

The name ‘whaling’ is a play on the marine nature of ‘phishing’, where the whale is the ‘big fish’ of an organisation – a higher value target that cyber criminals seek to exploit to gain access to businesses at the highest possible level where the rewards of a successful breach are greater.

Basic phishing scams are generally broad and non-personalised, but with whaling, attackers use detailed research and social engineering tactics to make their messages seem credible.

The goal is always to trick the target into sharing confidential information.

What is the goal of a whaling attack?

The goal of whaling is simple, cyber criminals want access to your data, systems and financial information.

By successfully deceiving a senior figure, cyber criminals can trick executives into transferring money, sharing system access credentials, or approving other fraudulent requests.

The attacker’s objective is always to make the deception seem routine, urgent and believable.

Senior members of staff generally have full access to company systems and data, so cyber criminals also seek to exploit these high-level permissions to open the door to broader, more devastating cyber attacks.

This could be anything from stealing customer data, including financial details, to creating backdoor access for continued exploitation.

Who is vulnerable to whaling attacks?

If you’re asking, ‘What is a whaling attack targeting?’, perhaps the simplest answer is: authority.

From senior executives and managers to board members, all are considered prime targets by cyber criminals as they essentially hold the keys to a business’s systems, data and financial records.

The criminals will go to great lengths to impersonate those in power to deceive others around your business – anyone with access to valuable information or with the ability to authorise actions is a potential whaling target.

This can include senior members of the financial team, the HR department and even your IT team.

What are the consequences of whaling attacks?

A successful whaling attack has the potential to be incredibly damaging, not just financially, but operationally and reputationally too.

If a senior executive is successfully deceived by whaling, potential consequences include the unauthorised transfer of company funds, the exposure of sensitive data and the danger of ongoing access to critical systems if the breach isn’t spotted.

Cyber attacks always have an immediate impact, be that through the direct theft of business cash and any costs associated with bringing the attack to an end.

These attacks can cause major disruption to workflow and lead to productivity losses across departments, too.

But the damage can extend far beyond this initial period.

If sensitive data were compromised, there may be legal liabilities and regulatory fines to answer to.

And reputational damage can be just as serious in the long term – when customers lose trust in your business, the effects can last for years.

What is the difference between whaling and phishing attacks?

The main difference is scope. Phishing attacks generally target wide groups of people at once and often take the form of generic emails with no personalisation.

On the flip side, whaling emails are highly targeted.

Cyber criminals will seek out information about their target from many sources, such as social media, public profiles or company updates, to craft highly personalised messages designed to appear as authentic as possible.

The goal is for the email to appear so genuine that the recipient doesn’t question it.

If you want to know more, we’ve written a full guide on what phishing is and how to prevent it.

How we can help protect your business from whaling attacks

If you’ve ever asked, ‘What is a whaling attack and how do I stop one?’, the answer is smart cyber security measures and that’s exactly what we do.

We combine proactive monitoring, secure email systems, multi-factor authentication and regular staff awareness training to keep your business protected at every level.

Our bespoke services are always built with your business at their core, and we always empower you with the knowledge of what your IT is capable of.

We’re ready to help. Call us today on 0800 804 4644, email getintouch@boldit.co.uk or use our online form to discover how our cyber security services can protect your business from phishing to full-scale whaling attacks.