Whaling may conjure images of 19th-century ship pursuits in the treacherous Antarctic seas, but the term has taken on an entirely different meaning in the contemporary digital landscape. The question of 'what is whaling in cyber security?' rests at the heart of this article. The actions of modern whalers now occur almost exclusively in cyberspace and their aims are invariably pecuniary, and less heroic.

In cyber security terms, whaling is an advanced form of phishing attack that targets high-profile employees within organisations, such as CXOs, senior executives, and other high-ranking officers in order to steal sensitive information. Because of the high-value targets, these attacks are often more sophisticated and carefully planned than a generic phishing attack.

Introduction to Whaling

Whaling attacks are a grim yet fascinating part of the cyber-security underworld. These cyber attacks rest on the art of deception, relying heavily on Social engineering and fraud. This is where the attacker masquerades as a trustworthy entity to coax sensitive information out of their targets. The techniques used in whaling are multifarious and constantly evolving, making it a critical threat that demands constant vigilance.

How Whaling Works

The mechanics of a whaling attack may vary but there are generally three distinct stages: Target Identification, Attack Preparation and Execution, and Information Capitalization.

During Target Identification, a cybercriminal or group identifies a target, often a senior executive who has access to valuable company data. Reconnaissance of the intended victim typically involves researching the target’s online presence, mapping their digital habits, behavior, relationships, decision-making authority, and any potential vulnerabilities.

Once the target is identified, the Attack Preparation and Execution stage begins. This often involves creating a convincingly disguised communication, like an email, that is designed to trick the individual into performing an action that compromises sensitive information. For instance, the attacker might send an email that appears to be a request from a trusted source, asking for login credentials or a financial transaction.

Finally, in Information Capitalization, the stolen information is used to meet the cybercriminal’s goals, such as unauthorized bank transactions, corporate espionage, or ransomwards attacks.

Common Whaling Techniques

Given the high stakes involved, whalers use a variety of techniques and tactics to achieve their malign ends. Spear phishing, CEO fraud, and business email compromise (BEC) scams are some of the most common techniques.

Spear phishing is a targeted version of phishing where tailored emails are sent to a specific individual. Meanwhile, CEO Fraud is where an attacker poses as a high-ranking executive and attempts to coerce the recipient into transferring funds or stealing information. BEC scams are highly tailored attacks aimed at businesses, typically focusing on those that conduct large amounts of wire transfers.

Preventing Whaling Attacks

Though whaling attacks can be alarmingly sophisticated, there are protective measures that individuals and organizations can employ. These include fostering a cyber-safe culture within the workplace, investing in phishing awareness training, enabling multi-factor authentication, maintaining updated anti-spam software, and regularly monitoring financial transactions.

In Conclusion

In conclusion, whaling is a significant cyber security threat that is widely used by cybercriminals to exploit high-profile individuals and organisations. With digital communication on the rise, it's vital to remain informed about the nature of whaling and the ways to prevent it. By understanding what whaling is in cyber security, high-ranking individuals and organizations can take proactive measures to guard themselves against this insidious form of cyber attack.