Whaling attacks also known as CEO fraud, are washing over the finance industry, causing severe and seemingly insurmountable damage. Experts estimate that the finance industry suffered a $12 billion loss over the past few years, making it a vertical that’s attacked 300 times more than others.
What makes CEO fraud so appealing to cybercriminals looking to exploit the financial industry? Clearly, it’s all about financial gain.
These attacks have a 20 percent success rate, and for good reason. Using whaling attacks, cybercriminals can easily bypass any financial organization’s multi-tiered security which often relies on multiple identity and authorization checks. This means that with just one successful attack, cybercriminals can strike gold.
In our latest eBook we take an in-depth look at the rise in whaling fraud in the finance industry and what can be done to curtail these attacks.
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