The rise of cybercrime has meant the imminent rise of new and improved attacks brewed up by these cyber-criminals. Probably the most damaging and deceptive of all, is ‘whaling’.
With more than $2.3 billion in losses being experienced over the past three years, this new form of trickery involves the cyber-criminal acting as a member of an organisation’s C-Suite, typically the CEO or CFO. The perpetrator then sends an email to a recipient requesting a wire or data transfer. These messages appear highly credible, often utilising the correct names and titles of individuals using similar domain names created to avoid spam filters.
While this may seem like an offence that can be easily detected, this is hardly the case. 55% Of organisations have experienced an increase in the volume of whaling attacks.
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Mimecast Limited recently released its whaling e-book titled ‘Whaling – Anatomy of an Attack’ where some grim truths about whaling are unpacked.
This concise e-book explores the five phases of a whaling assault, why this type of attack has been successful and how organisations can equip themselves against potential future attacks. Ultimately, a combination of awareness, technology and simulations are necessary to drastically reduce the probability of being attacked – shielding organisations from data and financial loss.
Some insightful facts that organisations need to know:
- 70% of whaling attacks involve domain spoofing
- 72% of whaling attackers utilise the identity of the CEO
- 36% utilise the identity of the CFO
- 65% of IT professionals don’t believe they are prepared to reasonably defend their organisation against e-mail based attacks.
Don’t think that your business will remain unaffected. Forewarned is forearmed.
Download the new Mimecast E-book Whaling: Anatomy of an Attack to learn the facts about these damaging and costly threats — and how you can stop them.
*US Federal Bureau of Investigation, 4/2016