Both individuals and organizations are at risk of phishing attacks. A new form of phishing has emerged in recent years: whaling phishing. This highly sophisticated and targeted attack targets senior executives and high-level officials, putting sensitive information and valuable assets at risk.
According to IBM’s data from 2021, phishing attacks increased by 2 percent between 2019 and 2020, partly due to COVID-19. Similarly, CISCO found that 86% of firms had at least one employee fall for a phishing scam in their 2021 research.
The Anti-Phishing Working Group (APWG) recorded 1,025,968 unique phishing attacks in Q1 of 2022. For APWG, this is the worst quarter ever recorded, as it is the first time the quarterly total has been over one million.
But what exactly is whaling phishing, and how does it differ from regular phishing?
Understanding the key differences between these two types of phishing attacks is crucial in today’s digital age, where the consequences of a successful attack can be devastating.
This article will explore the differences between whaling phishing and regular phishing and why it is essential to be aware of these threats to protect yourself and your organization.
Whaling Phishing Vs. Regular Phishing: An Overview
What is Regular Phishing?
Social engineering, or regular phishing, involves tricking individuals into revealing sensitive information, like login credentials or financial information. The attacker often impersonates a trustworthy entity, such as a bank or government agency, and sends an email or message requesting information or a link to a fake website.
Regular phishing attacks are often sent to large groups of people hoping that a small percentage will fall for the trick.
Related Read: How Can You Protect Yourself From Social Engineering?
What is Whaling Phishing?
On the other hand, whaling phishing is a highly targeted form of phishing specifically aimed at senior executives and high-level officials within an organization. The attacker carefully researches their target, gathering information about their role, responsibilities, and habits to tailor the attack for maximum impact.
Whaling phishing emails are often well-written and appear from a trusted source, making it easier for the target to fall for the trick.
Related Read: Whaling Cyber Awareness in 2024
The Differences Between Whaling Phishing and Regular Phishing
Here’s a clear difference between both phishing types:
Targeting: Who is the attack aimed at?
One of the primary differences between whaling phishing and regular phishing is the level of targeting. Regular phishing attacks are sent to a large group of people, hoping a small percentage will fall for the trick.
On the other hand, whaling phishing is a highly targeted form of phishing specifically aimed at senior executives and high-level officials within an organization. The attacker carefully researches their target, gathering information about their role, responsibilities, and habits to tailor the attack for maximum impact.
Sophistication: The level of effort put into the attack
Another difference between whaling phishing and regular phishing is the level of sophistication. Regular phishing attacks are often simple, with the attacker relying on the target’s trust to reveal sensitive information.
On the other hand, whaling phishing attacks are typically more elaborate and well-crafted, with the attacker using official logos, language, and email addresses that appear to be from a trusted source.
Information Targeted: What is the attacker after?
The type of information targeted by the attacker also differs between whaling phishing and regular phishing. In regular phishing attacks, the attacker is often after login credentials or financial information.
In contrast, in whaling phishing attacks, the attacker is after sensitive corporate information such as trade secrets, confidential documents, or access to financial accounts.
Consequence: The potential impact of a successful attack
The consequences of a successful phishing attack can be severe, regardless of whether it is a regular or whaling phishing attack. However, the consequences of a successful whaling phishing attack are often even more devastating.
The attacker can harm an organization’s reputation and cause significant financial losses by gaining access to sensitive corporate information.
Mode of Attack: How is the attack delivered?
Both whaling phishing and regular phishing attacks are often delivered through email or messages. Still, whaling phishing attacks may also involve phone calls or other forms of communication with the target.
Tactics Used: The methods used to trick the target
The tactics used to trick the target in whaling phishing, and regular phishing attacks can also vary. In regular phishing attacks, the attacker may use scare tactics or impersonate a trustworthy entity to trick the target into revealing sensitive information.
In whaling phishing attacks, the attacker may use more elaborate tactics, such as creating a fake website or providing a false sense of urgency to make the target act quickly.
Why Do Any Kinds of Phishing Matter?
Cybersecurity is a major concern for any business or organization, and it’s no different from phishing. There are a lot of reasons why phishing matters.
Phishing attacks are a threat for several reasons:
Financial Losses
Phishing emails can trick you into giving up confidential information that criminals can use to steal your identity or financial funds. Once they have access to these accounts, they can drain them or send money elsewhere without your knowledge. This is why it’s so important to protect yourself and your loved ones — if you don’t take action, they could become victims too!
Reputation Damage
Once cybercriminals have compromised an email account, they often use it as a platform for sending more phishing emails to steal information from other people. These emails might be sent under your name or someone else’s — which can damage your reputation with clients or colleagues who receive them! It’s important to get involved immediately and stop this from happening as soon as possible!
Related Read: What is Credential Phishing and how does DMARC prevent it?
Data Breaches
Unauthorized access to sensitive information stored on your network or computer system is a data breach. A data breach can occur when someone hacks into your system or when a disgruntled employee decides to leak confidential information. If this happens, your organization could suffer severe financial losses and damage its reputation.
Related Read: What is a Data Leak? | Meaning, Examples and Prevention
Loss of productivity
If you’re dealing with a phishing attack, your employees are likely being interrupted by constant requests for assistance from users who have received the phishing message.
Employees must stop what they’re doing, verify that the user hasn’t been compromised, and then begin remediation if necessary. This takes time away from productivity and can also stress your IT team as they try to deal with all the requests from users who have received these messages.
Legal Consequences for Phishing
If you get caught phishing, there could be serious legal consequences for both you and your company. Phishing can sometimes lead to identity theft or fraud charges being filed against you. If someone uses your information without permission after you’ve been tricked into giving it away through phishing scams, you could be liable for your actions.
How DMARC Prevents Phishing Emails Sent From Your Own Domain?
Your domain is not immune to phishing attacks, but with DMARC, you can prevent them from being sent from your own domain. Here’s what you need to know:
A DMARC policy set to p=reject can effectively combat a variety of cyberattacks, including direct-domain spoofing and email phishing. By verifying the origin of emails and blocking fake emails from being received and opened, DMARC can prevent phishing emails from being sent from your domain. However, the adoption and correct implementation of DMARC still needs to be improved among businesses.
A DMARC analyzer can assist organizations in enforcing DMARC correctly, ensuring improved email deliverability and reduced phishing attacks over time.
With PowerDMARC, organizations can safely upgrade their DMARC policy from monitoring to p=reject without losing legitimate emails. This enables them to enjoy the benefits of email authentication and visual identification with BIMI by attaching their unique brand logo to specific outgoing emails that reach their clients.
Staying Ahead of the Game: Understanding Whaling Phishing and Regular Phishing Threats
Both whaling and regular phishing pose a significant threat to organizations and individuals. Understanding the differences between these two forms of phishing and taking proactive measures to prevent attacks is crucial to protecting sensitive information and maintaining the stability of businesses and personal finances.
Stay vigilant and aware of the methods that attackers use to trick their targets, whether a targeted attack or a phishing scam. The difference between a successful and failed phishing attack could mean the difference between a secure future and a costly headache.
