November 03, 2025
Last December, an accounts payable clerk at a midsize business received an urgent message, purportedly from her "CEO": Purchase $3,000 worth of Apple gift cards for clients, scratch off the codes, and send them via email. Although it seemed suspicious, the request came under the boss's name amid hectic holiday schedules. By the time she verified, the scammer had vanished with the cards, and the company suffered the financial loss.
This incident, while painful, pales compared to others that can devastate a company completely. That same month, Orion S.A., a Luxembourg chemical manufacturer, fell prey to a far more costly fraud. An employee received emails mimicking routine wire transfer requests from what appeared to be trusted colleagues or partners. These messages seemed authentic, urgent, and consistent with usual business practices. The employee proceeded to execute several transfers without hesitation.
The consequence? $60 million wired directly into cybercriminals' accounts—over half of Orion's annual profits lost through a sophisticated series of fraudulent transfers.
If you believe your small business is immune, think again. In 2023 alone, gift card scams drained more than $217 million from companies, while business email compromise (BEC) attacks comprised 73% of cyber incidents in 2024. The holiday season is prime time for cyberattacks as criminals exploit distractions, stress, and the surge in transactions your team manages.
5 Holiday Scams Your Employees Must Recognize (To Prevent Costly Losses)
1. "Your Boss Needs Gift Cards" Scam (The $3,000 Text Trap)
- The scam: Impersonators pose as executives, urging employees to buy gift cards for customers or employee appreciation. In Q1 2024, 37.9% of BEC attacks involved gift card fraud.
- How to prevent: Enforce strict company policies requiring dual approval for gift card purchases. Train staff that executives will never request gift cards via text.
2. Invoice and Payment Manipulation (The High-Stakes Switch)
- The scam: Hackers send falsified banking details or infiltrate vendor email conversations around year-end payments. For example, in June 2024, Arlington, MA lost nearly $500,000 due to this tactic.
- How to prevent: Always verify banking changes via a known phone number, never through emails. Implement a mandatory phone confirmation for transactions over $5,000.
3. Fake Shipping and Delivery Alerts
- The scam: Phishing emails or texts pretending to be from UPS, FedEx, or USPS, asking recipients to "reschedule delivery" via malicious links.
- How to prevent: Educate employees to navigate to carrier websites directly by typing the URL or using bookmarks, avoiding risky links.
4. Dangerous "Holiday Party" Email Attachments
- The scam: Emails containing attachments named "Holiday_Schedule.pdf" or "Party_List.xls" that execute malware upon opening.
- How to prevent: Disable macros, diligently scan all attachments, and cultivate a culture of verifying unexpected files before opening.
5. Fraudulent Holiday Fundraising Campaigns
- The scam: Phishing websites impersonate charities or fake corporate matching programs to steal funds or sensitive data.
- How to prevent: Provide staff with a vetted list of approved charities and route all donations through official company channels.
Why These Scams Succeed and How to Stop Them
While tools like email, online banking, and digital payments streamline operations, they are also exploited by scammers. These sophisticated attacks combine social engineering and in-depth research targeting your company.
Companies conducting regular phishing simulations reduce risk by 60%, yet many small businesses neglect employee training. Implementing multifactor authentication blocks 99% of unauthorized access, yet many still rely solely on passwords.
Your Ultimate Holiday Security Checklist
Prepare your organization before the holiday rush with these essential steps:
- Two-Person Authorization: Require verbal confirmation for any transaction exceeding your threshold through a separate communication channel.
- Gift Card Policy: Establish a firm policy forbidding gift card purchases via email or text.
- Vendor Verification: Confirm any payment or banking changes by calling existing contacts on file.
- Enable Multifactor Authentication: Protect all email, banking, and cloud accounts with MFA.
- Holiday Scam Awareness: Educate your team about these five holiday scams using real-world examples.
The Hidden Impact: Beyond Financial Loss
While Orion's $60 million loss grabbed headlines, smaller businesses often suffer worse indirect effects such as:
- Operations stalled during critical peak periods
- Lost productivity as staff scramble to recover
- Damaged customer trust if data is compromised
- Increased insurance premiums following cyber incidents
With an average loss of $129,000 per business email compromise incident, many small businesses face devastating consequences at the worst possible time.
Secure Your Holidays: Keep Success, Not Chaos
The holiday season should focus on growth and celebration, not recovering from wire fraud. A simple team briefing, clear policies, and layered security practices can protect your business from cybercriminals.
Remember, the Orion employee could have prevented a $60 million loss with just one verification call. Your business can avoid becoming the next cautionary story by enforcing awareness and straightforward safeguards.
Ready to fortify your team before the New Year? Click here or call us at 404-719-5222 to schedule a 15-Minute Discovery Call. We'll guide you through fast, practical steps to secure your business. This holiday season, give your company the greatest gift: peace of mind.
