Every industry has its unique set of jargon, and the cybersecurity industry is no exception. One term that you may have come across recently is 'whaling', but you might be left wondering "what's whaling?" In this post, we will dive deep into uncovering the meaning of the term whaling, its implications and why it is considered a high-level threat in cybersecurity.

Introduction to Whaling

Whaling is a unique type of cyber attack. It's a higher-stakes version of phishing, targeted towards the 'big fishes' of an organisation - hence the term 'whaling'. These big fishes are usually high-ranking executives or individuals with access to sensitive data. Whaling attacks are typically sophisticated in nature and require a level of planning exceptional among phishing attacks.

The Mechanics of Whaling: What's Whaling?

Understanding the mechanics of whaling starts with understanding phishing. Phishing is a form of cyberattack where attackers trick individuals into revealing sensitive information such as login credentials or credit card numbers. The term whaling is derived from phishing but with an added layer of specificity, focusing on high-ranking individuals.

In whaling attacks, attackers send deceptive emails that seem legitimate, but are loaded with malicious content. These emails are often disguised as high-priority or confidential communications from trusted entities. The attacker's objective is to convince the recipient to reveal sensitive information or initiate a transaction to the attacker's benefit. The assembly of such emails entails knowing the target's work habits, interests, and professional contacts - adding to the intricacy of whaling attacks.

Whaling Attack Examples

In order to fully grasp the idea of 'what's whaling', it is important to look at some real-world examples. A famous instance of whaling is the attack on Ubiquiti Networks in 2015, where the finance department was tricked into transferring $46.7 million to an external account, believing that it was related to company operations.

Another noteworthy example is the whaling attack on the CEO of an Austrian aircraft components maker in 2016. The CEO was tricked into wiring €40 million to a fraudulent account, believing that he was taking part in a secret merger and acquisition deal.

Prevention and Protection: How to Combat Whaling Attacks?

Understanding 'what's whaling' is only part of the equation, it is equally critical to understand how to prevent and protect against such attacks. Here are some steps an organisation can take:

• Email Security: Invest in advanced email security software that includes features like link protection and sandboxing.
• Security Awareness Training: Regular cybersecurity training of employees, specifically senior executives, goes a long way in preventing whaling attacks.
• Two-Factor Authentication: Implementing two-factor authentication for sensitive operations adds an extra layer of security even if login credentials were compromised.

In Conclusion

In conclusion, whaling is a sophisticated form of cyber attack that targets high-ranking individuals in an organisation. It seeks to exploit the human element of cybersecurity, making it especially damaging. Understanding 'what's whaling' is imperative in building robust security measures. A proactive combination of technical security measures, user-education and stringent protocols is the most effective way to combat and deter these attacks.