Whaling Attacks

Critical Threat Level

Spear phishing attacks specifically targeting C-level executives, board members, and senior management

$250K+

Average loss per successful whaling attack

76%

Of organizations targeted by whaling in 2023

48Hrs

Average time attackers spend researching targets

What is a Whaling Attack?

Whaling is spear phishing that specifically targets "big fish" - C-level executives (CEO, CFO, COO), board members, and senior management. These attacks are even more sophisticated and well-researched than standard spear phishing because the targets have higher authority and access to sensitive information.

Whaling attacks often impersonate legal counsel, board members, regulators, or other executives to trick targets into revealing confidential information, authorizing large transactions, or compromising their accounts which can then be used for CEO fraud against their own organization.

Why Executives Are Prime Targets:

Authority to approve large financial transactions
Access to confidential business information and M&A deals
Compromised executive accounts can attack entire organization
Often less IT security awareness than general employees
High visibility makes research easy (speeches, interviews, LinkedIn)
Frequently travel and work remotely (harder to verify requests)

Common Whaling Attack Scenarios

1. Legal/Regulatory Subpoena

"You are required to provide testimony in pending litigation. Confidential documents attached. Click to review." Goal: Credential theft or malware installation

2. Board Member Communication

"This is [Board Member]. We need updated financial projections before tomorrow's executive session. Send via secure link." Goal: Steal confidential business information

3. M&A/Acquisition Bait

"Confidential acquisition opportunity. NDA required. Login to review terms before Friday deadline." Goal: Credential harvesting to access confidential data

4. Tax/Audit Authority

"IRS/SEC requires immediate clarification on Form 10-K filing. Verify your identity to avoid penalties." Goal: Identity theft or financial fraud

Detection for Executives

Unusual communication channel: Why email instead of usual method (phone, in-person)?
Artificial urgency: "Must respond within 24 hours" for complex business matters
Requests for credentials: No legitimate authority asks you to log in via email link
Confidentiality pressure: "Don't discuss with legal/IT" is major red flag
Out-of-band requests: Legal subpoena via email instead of certified mail
Domain inconsistencies: lawyer@smithjones-legal.com vs smithjones.com
Attachments from unknown sources: Especially legal docs, invoices, tax forms
Personal information requests: SSN, DOB for "verification"

Prevention for Executives

1. Executive-Specific Training

Specialized whaling attack simulations
Understanding of targeted attack sophistication
Recognizing impersonation of legal/regulatory authorities
Awareness that being busy doesn't excuse verification

2. Enhanced Security Measures

Mandatory MFA with hardware keys (YubiKey) for executive accounts
Separate email for public communications vs internal business
Advanced threat protection on executive mailboxes
Regular security briefings on current threats

3. Communication Protocols

Establish verification procedures with board, legal counsel, auditors
Use executive assistants to screen and verify unusual requests
Never respond to sensitive requests via email without verification
Verify through known phone numbers, not contact info in suspicious email

4. Information Control

Limit publicly available schedule and travel information
Review social media and LinkedIn profiles for oversharing
Restrict organizational charts showing executive relationships
Brief executives before public appearances/conferences

Executives: Verify Suspicious Emails

When you receive unexpected requests from legal, regulatory, or board sources, use HeaderScope to verify email authenticity before responding. Executive-targeted attacks often fail authentication checks.

Analyze Email Headers →