Whaling and spear phishing are latest scams targeting execs
Cybercriminals, no longer satisfied with a sweeping, general approach, are adding another weapon to their arsenal - so-called spear phishing attacks, or scams that are targeted at specific individuals.
Not surprisingly, according to security vendor MessageLabs, the latest targets are executives. Finding the names of top executives is easy - they're usually found on company websites. Cybercrimals then do some research on the individuals and write e-mails that directly relate to their role at the company in hopes that they will click on a link, Network World reported. The link brings the executives to a site where malware is downloaded onto their computers that tracks their keystrokes, which can reveal sensitive information.
Source: Sans Institute.
MessageLabs earlier this year spotted two e-mail blasts of what they are calling whaling. The e-mails say they are from the Better Business Bureau, a recruitment company or they are seeking invoice information. In June, MessageLabs caught 514 e-mails sent to executives in various organizations over two hours. In September, 1,100 whaling attacks were detected within 15 hours.
"It's really the social engineering that has tipped the balance now; now [phishers] are becoming much more technologically sophisticated as well as applying psychology to what they're doing," said Paul Wood, senior analyst with MessageLabs. "Now they conduct a lot of research before they attack, so it becomes much more difficult to recognize those attacks," Network World reported.
Jennifer Openshaw, a MarketWatch columnist, has a few tips on sniffing out bad e-mails. Beyond the obvious advice - don't reply to suspicious e-mails or open attachments - she advices always using good antispyware and making sure your firewall is on at all times. Also, she said snopes.com is a good resource to find out if some sob story is really true, and phishing scams should be reported to the Anti-Phishing Working Group (APWG) at firstname.lastname@example.org. She also suggested typing in "phishing" and the name of the source, "IRS" or "Paypal," for example, into your search engine. You can find out if your e-mail is a scam pretty fast that way, she writes.
The APWG reports some good news, however. In a July report on trends, it said the average time online for phish sites is about 3 and a half days, versus a week in 2003. The APWG says, "Response strategies are slowly closing phishers' felonious windows of opportunity."