The original $12.5bn figure was derived from business losses over a five-year period between 2013 and 2018. In one example of a whaling attempt, a number of executives across industries fell for an attack laced with accurate details about them and their businesses, that purported to be from a United States District Court with a subpoena to appear before a grand jury in a civil case. It’s a golden opportunity for cybercriminals looking to steal personal data and credit card information to pose as legitimate retail brands and lure consumers to fake sites. We increasingly see hackers impersonating brands in sophisticated spoofed emails; it’s surprisingly easy to do if the company doesn’t have email authentication records like DMARC in place. I couldn’t agree more with this and that is how we try to attract people here. Before joining Swedbank, Pierre-Yves worked in IT at both the Luxembourg Stock Exchange and IBM. Here are some of the main consequences of whaling attacks: Most organizations rely on Secure Email Gateways (SEGs) to keep inboxes safe. This information can then be used to access confidential systems, or to make subsequent spear phishing attacks within the organization more authentic and effective. (Attackers might choose to impersonate a display name or a domain in order to fool their target. A whaling attack might involve attackers trying to get the executive in question to divulge key credential information or other sensitive organizational data. Insights on cybersecurity and vendor risk. The term whaling refers to spear phishing attacks directed specifically at senior executives and other high-profile targets. Ultimately, if you are curious and flexible in your approach to solving a problem in IT then you have the right tools to get started. Typically used for malicious reasons. View Tessian's integrations, compatibility, certifications and partnerships. My strategy from the beginning was to automate as many processes as possible so that I could hire the best people. Account takeover In most phishing attacks, an attacker broadcasts an identical email to thousands of recipients. There are a wide range of reasons for businesses to protect themselves against Business Email Compromise, which raises the question: why are most business unprepared to defend against this threat? UpGuard Vendor RiskÂ can minimize the amount of time your organization spends assessing related and third-party information security controls by automatingÂ vendor questionnairesÂ and providingÂ vendor questionnaire templates. Whaling phishing is a targeted attack directed at high-level company employees, such as a CEO or CFO. Many whaling attacks target CEOs, CFOs and other executives who have a high level of access to sensitive company information. They sent the requested data, leaking the personal details of about 10,000 employees. Whaling attacks target high ranking executives; they don’t necessarily impersonate them. That said, they have subtle differences security teams should be aware of.Â. Of course, a principal aim of BEC attacks is to extract money from targeted organizations. It was the second time that malicious firmware was developed specifically for the purpose of destroying physical machinery – the first being Stuxnet, used by the U.S. and Israel to shut down Iranian nuclear centrifuges in 2009. Request a free cybersecurity report to discover key risks on your website, email, network, and brand. From the example of a whaling email below here is what you need to look out for: Is the domain name correct; Is the email out of the blue; Is there a sense of urgency; Spear phishing is a social engineering attack in which a perpetrator, disguised as a trusted individual, tricks a target into clicking a link in a spoofed email, text message or instant message. 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