The holidays should be a time for celebration—not cybercrime. Unfortunately, scammers see this season as prime time to strike. Here’s a real-world example that shows just how costly these attacks can be. Last December, an accounts payable clerk at a midsize company received an urgent text from their “CEO”: Buy $3,000 worth of Apple gift cards for clients, scratch the backs, and email the codes. It sounded unusual, but the request came from the boss’s name during peak holiday chaos. By the time the clerk double-checked, the cards were gone, the scammer had cashed out, and the company ate the loss. That sting pales in comparison to what happened to Orion S.A., a Luxembourg-based chemical manufacturer. An employee processed what looked like routine wire transfers—requests that appeared legitimate and urgent. The result? $60 million sent straight to cybercriminals—more than half the company’s annual profits gone. If you think your business is too small to be a target, think again. Gift card scams alone cost businesses over $217 million in 2023, and business email compromise (BEC) attacks accounted for 73% of all cyber incidents in 2024. The holidays are prime time because criminals know your team is distracted and processing more transactions than usual.

5 Holiday Scams Your Team Needs to Spot

1. “Your Boss Needs Gift Cards”

The scam: Impostors pose as executives and pressure staff to buy gift cards for “clients” or “employee appreciation.” Prevention: Put it in writing—no gift cards without two approvals. Train employees that leadership will never request them via text.

2. Invoice & Payment Switch-Ups

The scam: Fraudsters send “updated banking details” or hijack vendor email threads right when year-end bills are due. Prevention: Confirm any banking changes by phone using numbers already on file. Adopt a “call before you pay” rule for all changes over $5,000.

3. Fake Shipping & Delivery Notices

The scam: Phishing emails or texts mimic UPS, FedEx, or USPS with links to “reschedule delivery.” Prevention: Train staff to type the carrier’s site directly into the browser. Bookmark official tracking pages.

4. Malicious “Holiday Party” Attachments

The scam: Emails with attachments like Holiday_Schedule.pdf or Party_List.xls that install malware when opened. Prevention: Block macros, scan attachments, and make verifying unexpected files part of your culture.

5. Bogus Holiday Fundraisers

The scam: Fake charity sites or “company match” campaigns steal money or data. Prevention: Share an approved charity list and require all donations to flow through official portals.

Why These Attacks Work

Cybercriminals exploit the same tools that make business efficient—email, online banking, digital payments. These aren’t amateur scams; they’re sophisticated attacks blending social engineering with research on your company. Organizations that run regular phishing simulations reduce risk by 60%, yet most small businesses never train employees. Multifactor authentication blocks 99% of unauthorized logins, but many firms still rely on passwords alone.

Your Holiday Defense Checklist

• Two-Person Rule: Any transaction above your set threshold requires verbal confirmation through a separate channel.
• Gift Card Policy: No gift cards via email or text—ever.
• Vendor Verification: Confirm all banking changes by phone using numbers already on file.
• Enable MFA: Protect email, banking, and cloud accounts.
• Holiday Awareness: Brief your team on these five scams with real examples.

The Real Cost: More Than Money

While Orion’s $60 million loss made headlines, the hidden costs often hit small businesses harder:

• Operations grinding to a halt during peak season
• Productivity lost as staff scramble on cleanup
• Customer trust eroded if client data is compromised
• Insurance premiums spiking after a cyber incident

The average loss per BEC incident is $129,000—enough to sink many small businesses at the worst possible time of year.

Keep Your Holidays Merry, Not Messy

A quick staff huddle, a handful of smart policies, and a few layered protections go a long way toward keeping criminals out of your books. Remember: The employee at Orion could have stopped a $60 million loss with a single verification phone call. With the right awareness and simple checks, your business can avoid being the next cautionary tale.

Schedule Your Free Security Assessment

Because the best gift you can give your business this holiday season is peace of mind.