November 03, 2025
Last December, an accounts payable clerk at a midsize company received a suspicious urgent text posing as her "CEO": Purchase $3,000 in Apple gift cards for clients, scratch off the codes, and email them. Though it seemed strange, the holiday rush and the request's apparent authenticity caused her to comply. By the time she rechecked, the scammer had already cashed out, leaving the business with a significant loss.
While this scam inflicted a painful hit, some attacks can devastate entire companies. That same month, Orion S.A., a chemical manufacturer in Luxembourg, was duped by a far more destructive fraud. An employee received seemingly ordinary email requests for wire transfers—purportedly from trusted coworkers or partners. These messages appeared urgent and consistent with normal procedures. Without hesitation, the employee processed multiple transfers exactly as instructed.
The outcome? Cybercriminals stole $60 million, over half of Orion's annual profits, through a series of fraudulent wire transfers.
Think your small business is too small to be targeted? Think again. Gift card scams alone drained over $217 million from businesses in 2023, while business email compromise attacks made up 73% of cyber incidents in 2024. Holidays are a prime opportunity for criminals who exploit your team's distractions, stress, and increased transaction volume.
5 Holiday Scams Every Employee Must Know To Prevent Costly Losses
1. "Urgent Gift Card Requests From the Boss" (The $3,000 Text Scheme)
- How It Works: Scammers impersonate executives, pressuring staff to buy gift cards for "clients" or "employee rewards." In Q1 2024, 37.9% of business email compromises involved gift card scams.
- How To Prevent: Implement a strict policy requiring two approvals for gift card purchases. Train employees that leadership never requests gift cards via text.
2. Invoice & Payment Fraud (The High-Stakes Money Grab)
- How It Works: Fraudsters send "updated banking info" or hijack vendor emails during year-end billing. For example, Arlington, MA lost almost $500,000 to this scam in June 2024.
- How To Prevent: Always verify banking changes by calling a trusted phone number, never the one supplied in the email. Set a "phone verification rule" for all financial changes exceeding $5,000.
3. Phony Shipping & Delivery Alerts
- How It Works: Scam emails or texts impersonate UPS, FedEx, or USPS with links to "reschedule delivery" that lead to phishing sites.
- How To Prevent: Educate employees to type carrier websites directly into browsers and bookmark official tracking pages to avoid malicious links.
4. Malicious Attachments disguised as "Holiday Party" invites
- How It Works: Emails with attachments like "Holiday_Schedule.pdf" or "Party_List.xls" install malware when opened.
- How To Prevent: Disable macros, scan all attachments, and instill a culture of verifying unexpected files before opening.
5. Fake Holiday Fundraisers
- How It Works: Phishing websites mimic charities or fabricate "company match" campaigns to steal funds or data.
- How To Prevent: Provide an approved list of charities and require all donations to go through official channels.
Why These Scams Succeed & How To Shield Your Business
Modern tools like email, online banking, and digital payments make business easier but also open doors for scammers. These are not random "Nigerian prince" scams; they are sophisticated attacks combining social engineering with detailed company research.
Businesses conducting regular phishing simulations cut their risk by 60%, yet many small companies skip employee training. Multifactor authentication blocks 99% of unauthorized access, but many still rely solely on passwords.
Essential Holiday Cybersecurity Checklist
Prepare your team now for a secure holiday season:
- Two-Person Approval Rule: Ensure every transaction above your set limit is verbally cleared through a separate communication channel.
- Gift Card Policy: Clearly state: no gift cards requested via email or text messaging.
- Vendor Verification: Confirm all payment or banking updates by calling verified phone numbers.
- Enable Multifactor Authentication: Apply MFA to all emails, banking, and cloud systems.
- Holiday Scam Awareness: Educate your staff on these top scams using real-world cases.
The True Price Of Scams: Beyond Just Money
Although Orion's $60 million theft made headlines, smaller businesses often suffer even harder hidden impacts:
- Operations halt during critical peak periods
- Lost productivity as teams work to restore security
- Damaged customer trust if sensitive data leaks
- Rising insurance costs following cyberattacks
With an average loss of $129,000 per business email compromise, these cyber threats have the power to sink small businesses when they can least afford it.
Secure Your Holidays: Celebrate Without Cyber Chaos
The holiday season should focus on growth and joy, not recovering from cyber fraud. A quick team briefing, robust policies, and layered safeguards will keep cybercriminals locked out of your finances.
Remember: The employee at Orion could have stopped a $60 million theft with a simple call. By raising awareness and implementing practical safeguards, your business can stay protected and avoid becoming the next cautionary news story.
Ready to secure your team and safeguard your business before the New Year? Click here or call us at (336) 443-0061 to schedule a 15-Minute Discovery Call. We'll guide you through easy, effective steps to protect your business and ensure your holiday success isn't stolen by cybercriminals. The best gift this season is peace of mind.
