Shipping Firms Speared with Targeted ‘Whaling’ Attacks

Scammers are honing in on the shipping industry, using “whaling,” a.k.a. business email compromise (BEC) attacks, to scoop up credentials, or worse, compromise critical systems.

Hackers are launching whaling attacks to target various types of employees with some serious

online (and sometimes telephone-based) social-engineering research under their belts, Pen Test Partners researchers said in a Tuesday post.

Whaling is nothing new, but it continues to grow – and attacks against the shipping industry, known for its lax security measures, are proving to be rampant. In fact, the FBI says that BEC scams in 2018 resulted in losses of more than $12.5 billion – a more-than-double jump from the losses accrued in 2017, which harbored a $5 billion scam.

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Source: ThreatPost