November 03, 2025
Last December, a mid-level accounts payable clerk received an alarming text message supposedly from the company's "CEO": Purchase $3,000 in Apple gift cards for clients, scratch off the codes, and email them immediately. Though it felt suspicious, the message bore the boss's name, and amid holiday chaos, she proceeded. By the time verification occurred, the scammer had cashed out, and the business suffered the loss.
While this scam was painful, others can devastate companies completely. That same month, Orion S.A., a chemical manufacturer based in Luxembourg, became a victim of an even more catastrophic scam. An employee received what appeared to be routine, urgent email requests for wire transfers from trusted contacts. Without hesitation, multiple transfers were executed, sending $60 million—over half the company's annual profits—directly into cybercriminals' hands.
Think your small business is immune? Think again. In 2023, gift-card scams alone drained businesses of more than $217 million. Meanwhile, business email compromise (BEC) attacks made up 73% of all cyber incidents reported in 2024. The holiday season is a hotbed for these threats as criminals exploit employee distractions, stress, and increased transaction volume.
Top 5 Holiday Scams Your Team Must Spot to Avoid Costly Mistakes
1. The "Your Boss Needs Gift Cards" Scam ($3,000 Text Ruse)
- The Scam: Fraudsters impersonate executives, pushing employees to buy gift cards for fictitious ''clients'' or ''employee rewards.'span> In early 2024, gift-card fraud accounted for nearly 38% of BEC incidents.
- How to Prevent: Enforce company policies requiring two separate approvals before purchasing gift cards. Educate staff that executives will never request gift cards through text messages.
2. Invoice & Payment Switch-Up Scams (Major Financial Losses)
- The Scam: Criminals send emails with updated bank details or hijack legitimate vendor communications right before payments are due. For instance, in June 2024, the Town of Arlington, MA, suffered almost a half-million-dollar loss through this tactic.
- How to Prevent: Always verify any changes to payment details via a trusted phone number, never one supplied in the email. Implement a mandatory phone confirmation for transactions exceeding $5,000.
3. Fake Shipping & Delivery Alerts
- The Scam: Phishing emails or texts mimic carriers like UPS, FedEx, or USPS, including malicious links to reschedule deliveries.
- How to Prevent: Train employees to access carrier websites directly by typing URLs into browsers. Encourage bookmarking official tracking pages to avoid clicking suspicious links.
4. Malicious Attachments Disguised as Holiday Party Details
- The Scam: Emails with attachments like "Holiday_Schedule.pdf" or "Party_List.xls" can deliver malware once opened.
- How to Prevent: Disable macros, scan all attachments rigorously, and foster a culture where unexpected files are verified before opening.
5. Fake Holiday Fundraisers
- The Scam: Phishing websites imitate charities or fake company matching donation campaigns to steal funds or sensitive data.
- How to Prevent: Circulate a vetted list of approved charities and mandate donations through official company portals only.
Why These Scams Succeed and How Your Business Can Shield Itself
The very technologies powering your business efficiency—email, digital payments, online banking—are the tools scammers exploit. These threats are not crude spam from strangers but sophisticated, well-researched attacks that blend social engineering with insider company knowledge.
Organizations conducting regular phishing simulations reduce their risk by 60%, yet many small companies neglect employee training. Multifactor authentication (MFA) blocks 99% of unauthorized account access, but too many still rely solely on passwords.
Your Essential Holiday Cybersecurity Checklist
Prepare your business for holiday security challenges with these steps:
- The Two-Person Rule: Require verbal confirmation via a separate channel before processing transactions above a designated amount.
- Gift Card Policy: Formalize a policy banning gift card purchases through email or text.
- Vendor Verification: Always verify banking or payment changes through known contact numbers.
- Multifactor Authentication: Activate MFA across all email, banking, and cloud platforms.
- Holiday Security Awareness: Educate your staff about these five scams with real-world examples.
The True Cost of Cyber Scams: Beyond Just Financial Loss
Although Orion's $60 million loss made headlines, smaller businesses often feel even greater impact through:
- Halting operations during critical sales periods.
- Diminished productivity as employees struggle to address damage.
- Loss of customer trust if confidential information is compromised.
- Increased insurance premiums following cyber incidents.
With the average loss from each BEC incident at $129,000, many small businesses find recovery impossible, especially during peak seasons.
Keep Your Holiday Season Joyful and Secure
The holiday season should focus on growth and celebration—not cleaning up fraud. Implementing brief team meetings, clear policies, and layered security measures goes a long way toward safeguarding your financial health.
Remember: Orion's devastating $60 million loss could have been avoided with a simple phone verification. By fostering awareness and enforcing quick checks, your business can avoid becoming the next victim.
Ready to safeguard your team before the new year? Click here or call us at 678-940-8992 to arrange a 15-Minute Discovery Call. We'll guide you through practical, swift steps to protect your business. This holiday, gift yourself the invaluable peace of mind.
