November 03, 2025
Last December, an accounts payable clerk at a midsize company received an urgent text appearing to be from her "CEO": Purchase $3,000 worth of Apple gift cards for clients, scratch off the codes, and email them immediately. Though it seemed suspicious, the message bore her boss's name, and amidst holiday chaos, she acted quickly. By the time she verified, the scam was complete—the gift cards gone, the fraudster vanished, and the company bearing the loss.
While that scam hurts, some attacks devastate entire businesses. In the same month, Orion S.A., a Luxembourg chemical manufacturer, was hit by a far more destructive fraud. An employee received what looked like routine wire transfer requests, supposedly from trusted colleagues or partners. Seemingly legitimate, urgent, and fitting the company's normal operations, the employee processed multiple transfers without hesitation.
The consequence? Cybercriminals walked away with sixty million dollars—over half of Orion's yearly profits—stolen through fraudulent wire transfers.
If you believe your small business isn't a target, reconsider. Gift-card scams alone drained businesses of more than $217 million in 2023, while business email compromise (BEC) attacks made up 73% of all cyber incidents in 2024. The holiday season invites these attacks—criminals exploit your team's distractions, stress, and increased transaction volume.
Top 5 Holiday Scams Your Employees Must Recognize to Protect Your Business
1. "Urgent Gift Card Requests from the Boss" (The $3,000 Trap)
- How the Scam Works: Impersonators pretend to be executives, urging staff to buy gift cards for "clients" or "employee rewards." In early 2024, 37.9% of BEC attacks involved gift-card fraud.
- How to Prevent: Enforce a strict policy requiring two separate approvals for gift card purchases. Train employees that executives never request gift cards via text.
2. Vendor Invoice and Payment Manipulation (The High-Stakes Fraud)
- The Scam: Fraudsters send fake "updated banking information" or hijack vendor email conversations right before end-of-year payments. In June 2024, the Town of Arlington, MA, lost nearly $500,000 to this scheme.
- Prevention Tips: Always verify banking changes by calling a trusted phone number on file, never the number in the email. Establish a "phone call rule" for financial transactions exceeding $5,000.
3. Fake Shipping and Delivery Alerts
- The Danger: Phishing emails or texts impersonate UPS, FedEx, or USPS, containing links to "reschedule delivery."
- How to Stay Safe: Train employees to navigate to carrier websites directly rather than clicking links. Bookmark official tracking pages to avoid phishing traps.
4. Malicious Attachments Masquerading as Holiday Party Invites
- The Scam: Emails containing attachments like "Holiday_Schedule.pdf" or "Party_List.xls" that unleash malware when opened.
- Preventive Measures: Disable macros, scan all attachments thoroughly, and instill a culture of verifying unexpected files before opening.
5. Fraudulent Holiday Fundraising Campaigns
- The Scam: Phishing websites impersonate charities or fake company-matched donation drives to steal money or sensitive data.
- Safeguards: Circulate an approved list of charities and mandate that all donations be processed through official channels.
Why These Scams Succeed and How to Defend Against Them
The very tools that streamline your business—email, online banking, digital payments—are exploited by scammers. These attacks are sophisticated, combining social engineering with specific company research, far from the clichéd "Nigerian prince" scams.
Organizations conducting regular phishing simulations reduce risk by 60%, yet many small businesses neglect employee training. Multifactor authentication blocks 99% of unauthorized access, but some businesses still rely solely on passwords.
Your Essential Holiday Cybersecurity Checklist
Prepare your team before the holiday rush with these steps:
- Two-Person Rule: For transactions above your designated limit, require confirmation via a separate communication channel.
- Gift Card Policy: Implement written policies forbidding gift card purchases via email or text.
- Vendor Verification: Always verify banking or payment changes by calling trusted contacts on file.
- Enable Multifactor Authentication: Activate MFA across all email, banking, and cloud services.
- Holiday Awareness Training: Educate your staff about these top five scams using real-life examples.
The Hidden Toll: Beyond Financial Losses
Though Orion's $60 million loss grabbed headlines, smaller businesses often face graver hidden costs:
- Critical business operations halted during peak season
- Lost productivity as staff scramble to fix breaches
- Diminished customer trust if sensitive data is compromised
- Increased insurance premiums following cyber attacks
The average loss from a business email compromise incident reaches $129,000—enough to devastate many small companies at the worst possible time.
Keep Your Holiday Season Joyful and Secure
The holidays should focus on growth and celebration—not recovering from wire fraud. A quick team meeting, solid policies, and layered protections can dramatically reduce your risk.
Remember, the Orion employee could have stopped the $60 million loss with just one verification call. With the right knowledge and simple precautions, your business won't become the next cautionary story.
Ready to secure your team before the New Year? Click here or call us at 702-896-7207 to schedule a 15-Minute Discovery Call focused on practical, effective steps to safeguard your business. Don't let cybercriminals ruin your holiday success—give your business the invaluable gift of peace of mind this season.
