Executive phishing is a term used to describe a cyber-attack targeting high-ranking company employees, such as the CEO or CFO. As the name suggests, this type of attack involves sending a fraudulent email to an executive to obtain sensitive information or money. While a phishing attack can target any employee, executives are especially vulnerable because they often access valuable company data. Executive phishing is a serious threat to businesses of all sizes. Executive phishing is a serious threat to businesses of all sizes. If you’re a business owner, it’s essential to protect your business against phishing across all levels of employment. This blog will discuss what executive phishing is, how it works, and how you can protect your business against it.
Phishing is a cyber attack that uses email or “bait” to get a victim to click on a link or give up confidential information. Phishing attacks are becoming more and more common, as they are relatively easy for attackers to execute and can be very effective. Phishing emails often look very legitimate, making it difficult for even savvy users to spot them. For example, an attacker might pose as a customer service representative from a well-known company and email the victim to click on a link to update their account information. If the victim clicks on the link, they will be redirected to a fake website similar to the actual website. The attacker can then use the collected information to gain access to the victim’s account or commit other types of fraud. Phishing attacks can be very costly, as the attacker may blackmail the company to sell sensitive information or shut down businesses until a ransom is paid. Executive phishing is the type of cyberattack outlined above targeting individuals in executive positions. Because executives have the highest access to business activity, they are a desirable target for a malicious cyber actor. Executive phishing is also known as “cyber whaling,” as whales are the biggest fish in the sea. Although this sounds like a “big business problem,” whaling attacks are often especially devastating for small businesses or startups that can’t afford to lose a key employee.
Hackers are becoming increasingly creative in how they ‘cast their bait’ for executive phishing attacks. They are not always through your email account; they can target you on any social media platform, such as LinkedIn, Handshake, etc. They can pose as fellow employees, interested buyers, journalists, or any attractive cover to increase their chances of engagement. The cyberattacker’s goal is to gain access to your system to steal data or plant malware. They will often use social engineering techniques to trick you into clicking on a malicious link or opening malware attachments. It is vital to be aware of these cyberattack methods and exercise caution when interacting with unknown people or clicking on links from unfamiliar sources.
Here is a list of things executives and employees should look for to evade a malicious cyber attack:
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