November 03, 2025
Last December, an accounts payable clerk at a midsize company was startled by a sudden text from her "CEO": Purchase $3,000 in Apple gift cards for clients, scratch off the codes, and email them immediately. Although suspicious, the message used her boss's name and holiday bustle added pressure. By the time she verified, the scammer had already drained the cards, leaving the company with a costly loss.
While that scam hurt financially, other attacks can devastate businesses completely. In that same month, Orion S.A., a Luxembourg-based chemical firm, suffered a far more severe breach. An employee received what seemed like routine wire transfer instructions via email, supposedly from trusted colleagues or partners. The requests were urgent, plausible, and consistent with regular operations. Without hesitation, the employee executed multiple transfers.
The fallout? A staggering $60 million vanished into cybercriminal hands — wiping out more than half of the company's yearly profits through fraudulent wire transfers.
If you assume your small business is safe from such threats, think again. Gift card scams alone cost businesses over $217 million in 2023, while business email compromise (BEC) attacks represented 73% of cyber incidents in 2024. The holidays are peak season for these frauds because criminals exploit your team's distractions, stress, and increased transaction volume.
Top 5 Holiday Scams Your Employees Must Recognize (Before They Drain Your Funds)
1. "Urgent Boss Gift Card Requests" (The $3,000 Trap)
- How it works: Scammers impersonate company leaders, urging staff to buy gift cards for "clients" or "employee rewards." In early 2024, nearly 38% of BEC cases involved such gift-card fraud.
- How to prevent: Establish a strict policy requiring dual approvals for gift card purchases. Train employees that executives never request such cards via text.
2. Invoice & Payment Account Takeovers (The High-Stakes Scheme)
- How it works: Fraudsters send fake "updated bank details" or hijack vendor email threads near billing deadlines. For example, in June 2024, Arlington, MA lost nearly half a million dollars to this scam.
- How to prevent: Always verify banking changes via phone numbers you already have on file—never trust contact info in emails. Implement a "phone call rule" for any financial change exceeding $5,000.
3. Fake Shipping & Delivery Alerts
- How it works: Phishing emails or texts masquerade as UPS, FedEx, or USPS notifications with links to "reschedule delivery."
- How to prevent: Instruct employees to access carrier websites directly by typing URLs or using bookmarks—never click on suspicious links.
4. Malicious Holiday Party Attachments
- How it works: Emails labeled "Holiday_Schedule.pdf" or "Party_List.xls" contain malicious attachments that install malware upon opening.
- How to prevent: Disable macros, scan attachments thoroughly, and promote a culture of verifying unexpected files with IT before opening.
5. Fake Holiday Fundraiser Schemes
- How it works: Phishing websites impersonate charities or fake company match drives to steal donations or sensitive data.
- How to prevent: Maintain and share an approved charity list. Require donations go through verified portals only.
Why These Attacks Succeed & How You Can Stop Them
The very tools that drive business efficiency—email, online banking, and digital payments—are exploited by cunning scammers. These aren't amateur "Nigerian prince" scams; they are sophisticated attacks mixing social engineering with deep company research.
Companies conducting regular phishing simulations reduce risk by 60%, yet many small firms neglect this crucial training. Multifactor authentication stops 99% of unauthorized logins, but many businesses still rely solely on passwords.
Your Holiday Cybersecurity Checklist
Prepare your team before the busy season unfolds:
- Two-Person Rule: Require verbal confirmation via separate channels for all transactions above your threshold.
- Gift Card Policy: Clearly ban gift card purchases via email or text.
- Vendor Verification: Always confirm bank or payment changes by contacting vendors at pre-existing phone numbers.
- Multifactor Authentication: Activate MFA on all email, banking, and cloud systems.
- Holiday Awareness Training: Educate your team on these five scams using real-world examples.
The Hidden Costs: Beyond Just Money
Though Orion's staggering $60 million loss captures attention, small businesses often suffer more from indirect impacts such as:
- Operational shutdowns during critical peak seasons
- Lost productivity as employees address recovery efforts
- Diminished customer trust if sensitive data is breached
- Increased insurance costs following cyber incidents
The average financial hit from a single business email compromise incident is $129,000 — potentially devastating many small businesses during their most vulnerable time.
Keep Your Holidays Safe & Successful
The holidays should focus on growth and celebration—not on recovering from costly wire fraud. A quick team briefing, smart policy implementation, and layered security can keep cybercriminals out of your accounts.
Remember: A single verification call could've prevented Orion's $60 million loss. With the right awareness and simple precautions, your business will avoid becoming the next cautionary tale.
Ready to secure your team before the New Year? Click here or call us at (321) 221-2991 to schedule a Consult. We'll guide you through practical steps to strengthen your business defenses. Don't let cybercriminals ruin your holiday season; give your business the ultimate gift: peace of mind.
