Phishing has evolved far beyond generic emails filled with typos and suspicious links. Today, one of the most dangerous forms of phishing is called executive impersonation—also known as whaling. These attacks are highly targeted, convincingly crafted, and aimed at the individuals who have access to the most sensitive data and the authority to approve major decisions.
What Is Executive Impersonation Phishing (Whaling)? 
Executive impersonation, or whaling, is a specialized phishing attack where cybercriminals impersonate a high-level executive—often the CEO, CFO, or another privileged person within an organization. The goal? To trick someone into transferring funds, revealing confidential data, or granting access to critical systems.
Unlike mass phishing emails, whaling attacks are carefully tailored. They use familiar language, internal references, and a tone of urgency to make the message appear legitimate. These attacks often spoof email addresses or even take over real ones if the attacker has compromised an account.
How Executive Phishing Attacks Work
The anatomy of a whaling attack typically follows a pattern:
- A finance or HR team member receives an urgent email from an executive.
- The message requests a wire transfer, W-2 data, or login credentials.
- There’s often pressure to act quickly and not to confirm with others.
- If unverified, the recipient may unknowingly carry out the fraudulent request.
Attackers often conduct reconnaissance beforehand—monitoring social media, press releases, and company websites to understand your org chart and lingo.
Executive impersonation is just one tactic under the broader umbrella of Business Email Compromise (BEC). If your company handles vendor payments or receives frequent invoice requests, you’ll want to watch for BEC scams too. Learn more in our blog: Don’t Fall for It: How to Spot and Stop BEC Invoice and Urgent Payment Scams.
Examples of Real Incidents
Snapchat fell victim to an executive impersonation scam in 2016. An employee received an email that appeared to come from the CEO, asking for payroll information on current and former employees. Thinking it was legitimate, the employee sent over the data—resulting in a serious breach of private information.
Mattel Inc. was tricked into wiring $3 million to a fraudulent account in China after a cybercriminal posed as the new CEO. The finance executive complied with the request, not realizing it was fake until it was too late.
These incidents highlight how even large, well-resourced companies can fall prey to clever deception.
Who Is at Risk?
Any organization can be targeted. However, executive impersonation phishing is particularly effective in environments where high-level leaders are publicly visible and communication lines are less formal. Remote work, flat hierarchies, and fast-moving financial operations all contribute to increased risk.
Statistically, BEC attacks—which include executive impersonation—account for more than 50% of all social engineering breaches. Reported BEC losses in the U.S. totaled approximately $2.9 billion, with an average loss per incident of $137,000. Globally, whaling attacks are responsible for an estimated $1.8 billion in annual losses.
Attackers often take advantage of common workflows and weak verification protocols to request wire transfers, W-2 data, or login credentials. With the average BEC wire transfer request now reaching $24,586, the financial and reputational stakes have never been higher.
Any organization can be targeted. However, these factors increase the risk:
- Companies with high public visibility of executives
- Businesses that frequently move money between accounts
- Remote/hybrid work environments where in-person verification is harder
- Flat hierarchies where staff feel obligated to comply with senior leadership quickly
The real danger lies in trust—the attacker is banking on the fact that most employees will act without hesitation when receiving a direct request from the top.
Why These Attacks Succeed 
Whaling, or executive impersonation phishing, is a highly effective tactic because it preys on authority, trust, and urgency. These attacks often bypass traditional email security systems by using minimalistic, well-crafted messages that mimic the tone and behavior of real executives. In fact, 89% of phishing emails now involve some form of impersonation, with executive roles such as CEO, CFO, CPO, CISO, and CRO being the most frequently targeted.
New employees are particularly susceptible—many whaling attempts are launched within the first three weeks of an employee’s start date, capitalizing on their unfamiliarity with company procedures.
Adding to the complexity, 67.4% of phishing attacks in 2024 used AI to enhance the realism of the impersonation, while 84.2% of these emails still passed DMARC authentication. This makes executive impersonation phishing not only psychologically manipulative but technically evasive as well.
Executive phishing scams work because they exploit human psychology:
- Authority bias: The request appears to come from someone in power.
- Urgency: The message implies there’s no time to think.
- Fear of pushback: Employees may feel it’s inappropriate to question a high-ranking executive.
Add to that increasingly realistic email spoofing techniques, and it’s easy to see how these scams bypass technical defenses.
How to Protect Your Business
Mitigating executive impersonation starts with a combination of technology, policy, and training:
- Verify Requests on a Separate Channel: If you receive an email requesting a wire transfer or sensitive data, pick up the phone or send a chat message to confirm. Never act on email alone.
- Implement Security Awareness Training (SAT): Train your team to spot red flags, including spoofed email addresses, tone changes, and requests that break normal procedure.
- Use Domain Authentication Tools: Make sure your domain uses SPF, DKIM, and DMARC records to reduce spoofing.
- Restrict Public Executive Information: Avoid oversharing exec contact info, titles, and email addresses on public platforms.
- Enforce Separation of Duties: Ensure large financial transactions require approval from multiple individuals.
For broader guidance on phishing defense, read our related blogs:
- How to Prevent Phishing Attacks
- Computer Security: Phishing Emails and the Hidden Dangers of Malicious Attachments
- Social Media Phishing: The New Frontier for Cyber Threats
How Professional Computer Concepts Can Help
At Professional Computer Concepts, we don’t just provide IT support. We help businesses take control of their technology, security, and growth. As a trusted Managed IT and Cybersecurity provider serving the Bay Area for over 20 years, we specialize in proactive IT management, cybersecurity, and cloud solutions for small to mid-sized businesses (SMBs).
We take a comprehensive approach to protecting businesses, offering:
- Advanced Cybersecurity Solutions – Protecting your business from cyber threats before they happen
- 24/7 IT Support & Monitoring – Keeping your technology running smoothly, day and night
- Cloud Computing & Remote Work Solutions – Helping businesses stay connected and productive
- Strategic IT Consulting (vCIO Services) – Ensuring your technology supports your long-term business goals
If you’re a business owner looking to strengthen your cybersecurity, reduce IT headaches, and improve efficiency, we’re here to help.
Let’s Talk! Contact us today to learn how Professional Computer Concepts can help your business stay secure, productive, and ready for the future.
Stay Vigilant, Stay Secure
Whaling attacks prove that no one—not even your executive team—is off limits to cybercriminals. But with the right awareness, processes, and security tools in place, your business can stay ahead of these highly targeted threats.
Not sure where your vulnerabilities lie? Let’s talk about how to protect your people, data, and dollars. Schedule a consultation today.