Last December, an accounts payable clerk at a midsize company received an urgent text from her “CEO.” The message was simple:
“Buy $3,000 in Apple gift cards for clients and send me the codes.”
It sounded unusual — but it came from her boss’s name, and during the holiday rush, she didn’t question it. By the time she double-checked, the cards were gone, the scammer had cashed out, and the business took the loss.
That scam may sting, but some are far worse. Around the same time, Orion S.A., a chemical manufacturer based in Luxembourg, lost $60 million to a sophisticated email fraud scheme. An employee processed several “urgent” wire transfers that appeared legitimate — but the money went straight into the hands of cybercriminals.
Think your business is too small to be a target? Think again.
In 2024, business email compromise (BEC) made up 73% of all cyber incidents, and gift card scams alone cost U.S. businesses over $217 million in 2023.
The holiday season is prime time for these attacks — employees are busy, distracted, and eager to please. Cybercriminals know it.
🎄 5 Common Holiday Scams Your Employees Need to Watch For
- “Your Boss Needs Gift Cards” (a.k.a. The $3,000 Text Trap)
The Scam: Imposters pose as executives asking for gift cards “for clients or staff.” In early 2024, nearly 38% of BEC scams followed this pattern.
Prevention: Require two approvals for any gift card purchases. Train your team that leadership will never request them via text or email.
- Invoice & Payment Switch-Ups (The Big Money Play)
The Scam: Criminals hijack email threads or send fake “updated banking details” right before payments are due. In 2024, one U.S. town lost nearly $500,000 to this tactic.
Prevention: Confirm banking changes over the phone — using a verified number, not the one in the email. Use a “call-to-confirm” rule for all payments above $5,000.
- Fake Shipping & Delivery Notices
The Scam: Phishing emails or texts posing as UPS, FedEx, or USPS urge you to “reschedule” a delivery via malicious links.
Prevention: Never click tracking links in emails. Type the carrier’s website directly into your browser or use saved bookmarks.
- Malicious “Holiday Party” Attachments
The Scam: Emails containing files like Holiday_Schedule.pdf or Party_List.xls install malware when opened.
Prevention: Block macros, scan all attachments, and encourage staff to verify unexpected files with the sender.
- Bogus Holiday Fundraisers
The Scam: Fake charity sites or “company match” programs trick employees into donating money or credentials.
Prevention: Publish an approved charity list and require all donations to go through official company portals.
🧠 Why These Attacks Work — and How to Stop Them
These scams succeed because they exploit trust and timing.
Criminals research your organization and use realistic names, tone, and timing to make their requests believable.
Even smart, cautious employees can get fooled when they’re juggling year-end projects and holiday stress.
Here’s what makes a difference:
✅ Companies that run phishing simulations reduce cyber risk by 60%.
✅ Multifactor authentication (MFA) blocks 99% of unauthorized logins.
✅ Having clear security policies in writing gives employees the confidence to slow down and verify.
🛡️ Your Holiday Cyber Defense Checklist
Before the holidays hit full swing, make sure your business checks these boxes:
- Two-Person Rule: Require dual approval for all financial transactions above your set limit.
- Gift Card Policy: Put it in writing — no gift cards via email or text.
- Vendor Verification: Confirm all payment or banking changes through verified phone numbers.
- Multifactor Authentication: Enable MFA on every email, banking, and cloud account.
- Team Awareness: Review these scams together and share real examples.
💸 The Hidden Costs of Falling Victim
Orion’s $60 million loss was headline news, but for small businesses, even a few thousand dollars can cause serious damage.
After a cyberattack, businesses often face:
- Frozen operations during peak season
- Lost productivity from cleanup
- Damaged client trust and reputation
- Higher insurance premiums
The average loss from a BEC attack is $129,000 — enough to devastate many small and midsized companies.
🎅 Keep Your Holidays Merry, Not Messy
The holidays should be about growth and celebration — not financial cleanup.
A few smart policies and a short security huddle can protect your business from becoming the next cautionary tale.
Remember: The employee at Orion could have saved $60 million with one verification phone call. The same goes for your team.
Before the year ends, take time to review your cyber defenses and educate your staff.
🎁 Ready to protect your business this holiday season?
Schedule your free Security Assessment with Custom Technologies, Inc. today.
Because the best gift you can give your business is peace of mind.
💻 Let us manage your network so you can manage your business.
💬 FAQs: Protecting Your Business from Holiday Scams
- What’s the most common holiday scam targeting businesses?
The “CEO gift card” scam tops the list. Criminals impersonate executives and ask employees to buy gift cards, claiming it’s for clients or staff appreciation. - How can I train my team to recognize scams?
Run short phishing simulations, review real scam examples, and set clear verification policies for payments, gift cards, and data requests. - Is my small business really at risk?
Yes — cybercriminals often target small and midsized companies because they typically have weaker defenses and fewer verification steps. - What should I do if we fall for a scam?
Immediately contact your bank and IT provider. Quick action can sometimes reverse transactions or prevent further damage. - How can Custom Technologies, Inc. help protect my business?
We provide managed IT services, cybersecurity monitoring, and employee awareness training to help Metro Atlanta businesses stay secure — especially during high-risk times like the holidays.
