November 03, 2025
Last December, a mid-sized company's accounts payable clerk received an urgent text "from the CEO" instructing her to purchase $3,000 worth of Apple gift cards for clients, scratch off the codes, and email them back. Despite sounding suspicious, the message appeared legitimate amidst holiday chaos. By the time she verified, the scammer had already cashed out, leaving the company to bear the loss.
While this scam stings, some attacks can devastate businesses entirely. That same month, Orion S.A., a Luxembourg chemical manufacturer, was blindsided by a far more severe fraud. An employee responded to seemingly routine wire transfer requests—appearing to come from trusted colleagues or partners—that aligned with daily operations. Without suspicion, multiple transfers were processed.
The outcome? Cybercriminals siphoned off $60 million—over half of Orion's annual profits—through fraudulent wire transfers.
Think your small business is immune? Think again. In 2023, gift-card scams cost businesses over $217 million, and business email compromise (BEC) attacks accounted for 73% of all cyber incidents in 2024. Criminals exploit the holiday season when teams are stressed, distracted, and handling a surge of transactions.
5 Holiday Scams Your Employees Must Recognize (Before They Cost You Thousands)
1. The "Boss Needs Gift Cards" Trap (A $3,000 Costly Mistake)
- The scam: Impostors impersonate executives, pressuring employees to buy gift cards for "clients" or "rewards." Q1 of 2024 saw 37.9% of BEC incidents related to gift-card fraud.
- How to prevent: Set a strict policy requiring two approvals for gift card purchases. Remind teams that executives never request gift cards via text.
2. Invoice & Payment Scheme Swaps (The High-Stakes Fraud)
- The scam: Attackers send fake "updated bank details" or compromise vendor emails near billing deadlines. Arlington, MA lost almost $500,000 in June 2024 due to this.
- How to prevent: Always verify bank details with a known phone number—not the email sender's. Implement a "phone call rule" for any financial change over $5,000.
3. Fake Shipping & Delivery Alerts
- The scam: Phishing messages mimic UPS/FedEx/USPS notifications with links to "reschedule deliveries."
- How to prevent: Coach employees to visit official carrier websites directly or use saved bookmarks instead of clicking suspicious links.
4. Malicious "Holiday Party" Attachments
- The scam: Emails carrying attachments named "Holiday_Schedule.pdf" or "Party_List.xls" infect devices with malware once opened.
- How to prevent: Disable macros, scan attachments thoroughly, and foster a culture of verifying unexpected files before opening.
5. Fraudulent Holiday Fundraisers
- The scam: Phishing sites impersonate charities or fake "company match" drives to steal donations or data.
- How to prevent: Provide a vetted charity list and ensure all donations happen through official company channels.
Why These Holiday Scams Succeed and How to Stop Them
The very tools that streamline your business—email, online banking, digital payments—are exploited by scammers. These attacks are sophisticated blends of social engineering and company-specific research, not your average spam.
Companies conducting regular phishing drills reduce risks by 60%, yet many small businesses neglect employee training. Multifactor authentication (MFA) prevents 99% of unauthorized access, though many still rely solely on passwords.
Your Essential Holiday Cybersecurity Checklist
Before the holiday rush, ensure your business follows these key defense steps:
- Two-Person Approval Rule: Require verbal confirmation through separate channels for transactions above your set limit.
- Strict Gift Card Policy: Ban gift card purchases via email or text by official documentation.
- Vendor Payment Verification: Always verify banking changes by calling numbers already on file.
- Enable MFA Everywhere: Activate multifactor authentication on all critical accounts: email, banking, cloud storage.
- Holiday Scam Awareness: Educate your staff on these top five scams using real-world examples.
The True Impact: Beyond Just Financial Loss
Although Orion's $60 million loss captured headlines, smaller companies feel the impact in harder-to-measure ways:
- Critical operations halted during peak seasons
- Employee productivity suffers while managing fallout
- Damaged customer trust if client data is leaked
- Higher insurance costs post-cyber incidents
On average, each business email compromise costs $129,000 — enough to ruin small companies during their most crucial time.
Keep Your Holidays Joyful and Secure
The holiday season should focus on growth and celebrations, not scrambling to fix wire fraud. A simple team briefing, smart policies, and layered security can keep rogue actors out of your financial records.
Remember: Orion's devastating $60 million theft could have been prevented by one quick verification phone call. With proper awareness and straightforward safeguards, you can shield your business from becoming the next cautionary statistic.
Ready to secure your team before the New Year? Click here or call us at 336-904-2445 to schedule a 15-Minute Discovery Call and discover practical, effective steps to protect your business. Don't let cybercriminals steal your holiday success; the best gift you can give this season is peace of mind.
