• A targeted phishing attack where scammers impersonate high-ranking executives.
• Used to trick employees into transferring large sums of money.
• Attackers often research the company’s hierarchy before executing the fraud.

2. Whale Phishing Scam Targets Pune-Based Company (2024)

Steps of the Fraud:

1. Impersonation of Executives:
   • Scammers impersonated the company’s chairperson and managing director by compromising their email accounts.
2. Deceptive Communication:
   • They sent emails to the senior accounts officer, instructing them to transfer funds for an urgent business need.
3. Unauthorized Fund Transfer:
   • Believing the request to be legitimate, the accounts officer transferred ₹4 crore to the fraudsters’ account over a week.
4. Discovery and Reporting:
   • The fraud was uncovered when the real executives noticed the unauthorized transactions, leading to a police complaint.