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What makes these attacks profitable is the fact that standing due to them is lost only to a specific NPC faction of the convoy. Global security status does not decrease! But that's not all - CONCORD also does not interfere, except for those cases when you attack the convoys of  CONCORD :) So at a first glance it's just a perfect way to earn ISK and resources. But of course, there are drawbacks aw well – firstly, searching for such convoys takes quite a lot of time (and luck), and secondly, the income from this "peaceful" piracy is relatively small. Many players consider such earnings "noobish" - but it is very safe.
So you can hunt throughout the Empire, but the best places are in the sectors with 0.5-0.7 security status. Attack the convoys of industrial ships, entering a station of an NPC corporation (which you are monitoring), but do not attack convoys belonging to this corporation in any case. To be sure always read the information about the station.
The tactics may be the following - wait until the convoy of industrial ships is formed completely (this may take some time until the ships arrange in a line) and starts moving away from the station; at this time you need to make sure the convoy does not belong to Concord, or to the faction, which holds the station. The convoy will pass 150 kilometres, and then will disappear and will appear near its destination (somewhere at another station in the same system, between systems such convoys do not fly).
All this time the convoy will be in the reach of Sentry gins, so if you attack on a convoy belonging to the faction that owns the station, you'll get yourself under fire. To find out where the convoy is from is simple - choose a major industrial ship, and choose the "look at" it option to see the ship as if it from front. You will see where it flies from, it should be a station in the same system, but of another faction. If the ship flies "from nowhere" – it means this convoy was formed at the same station, and thus do not touch this convoy.