November 03, 2025
Last December, an accounts payable clerk at a growing company received a suspicious text allegedly from her "CEO": Purchase $3,000 in Apple gift cards for clients, scratch off the backs, and email the codes. Though skeptical, the message seemed genuine amidst the holiday rush. By the time she verified, the cards were gone, stolen by scammers, leaving the company with a costly loss.
This scam was painful, but some are far more destructive. That same month, Orion S.A., a Luxembourg chemical manufacturer, was targeted by a much deadlier fraud. An employee responded to what looked like routine wire transfer requests, seemingly from trusted partners. Deceived by their urgency and authenticity, the employee processed several transfers.
The devastating outcome? $60 million — over half of the company's annual profits — vanished into cybercriminals' hands through fake wire transfers.
Think your small business is safe? Think again. Gift-card scams alone drained over $217 million from businesses in 2023. And in 2024, business email compromise attacks made up 73% of all cyber incidents. The holiday season is prime time for these frauds, as distracted, stressed teams process a surge of transactions.
5 Critical Holiday Scams Your Team Must Avoid To Prevent Costly Losses
1. "Urgent Gift Card Requests" (Avoid The $3,000 Text Scam)
- The Scam: Fraudsters impersonate executives, pressuring employees to buy gift cards under false pretenses like "client gifts" or "employee rewards." In early 2024, nearly 38% of business email compromises involved gift card fraud.
- How To Prevent: Implement strict company policies requiring dual approvals for gift card purchases. Train employees that legitimate executives never request gift cards via text message.
2. Fake Invoice & Payment Details (The Costly Vendor Switch)
- The Scam: Scammers send fraudulent "updated banking info" or hijack vendor emails near year-end payments. For example, Arlington, MA lost nearly $500,000 in June 2024 this way.
- How To Prevent: Always verify banking changes by calling a trusted number, never reply to the email. Require a phone call confirmation for any financial transaction exceeding $5,000.
3. Phony Shipping & Delivery Alerts
- The Scam: Fake emails or texts impersonate carriers like UPS, FedEx, or USPS with links urging recipients to "reschedule delivery," which lead to phishing sites.
- How To Prevent: Educate employees to visit carrier websites directly by typing the URL or using bookmarks. Avoid clicking on unsolicited links.
4. Malicious "Holiday Party" Email Attachments
- The Scam: Emails with attachments like "Holiday_Schedule.pdf" or "Party_List.xls" that deploy malware when opened.
- How To Prevent: Block macros and scan all attachments routinely. Create a culture of verifying unexpected files before opening.
5. Fake Holiday Fundraising Campaigns
- The Scam: Phishing websites mimic charities or fake company matching programs to steal donations or harvest data.
- How To Prevent: Circulate an approved charity list and require donations to be made exclusively through official company channels.
Why These Scams Succeed (And How To Defeat Them)
The very technology powering your business efficiency — email, online banking, digital payments — is what scammers exploit. These attacks are not stereotypical scams; they combine social engineering with in-depth research about your company.
Companies conducting regular phishing drills reduce their risk by 60%, yet many small businesses lack employee training. Multifactor authentication (MFA) blocks 99% of unauthorized access, though many still rely solely on passwords.
Your Ultimate Holiday Security Checklist
Prepare your business for the holiday season with these top safeguards:
- Two-Person Rule: Require verbal confirmation via separate communication for any transaction beyond a set limit.
- Gift Card Policy: Document a strict policy prohibiting gift cards via email or text.
- Vendor Verification: Always confirm payment or banking changes through known phone numbers.
- Enable Multifactor Authentication: Apply MFA across all email, banking, and cloud services.
- Holiday Cyber Awareness: Brief your team on common scams using real-world examples.
The True Price: Beyond Financial Loss
Although Orion's $60 million loss made headlines, smaller businesses feel hidden damage more acutely:
- Halting operations during peak sales periods
- Lost productivity as employees handle crisis response
- Damaged customer trust from data breaches
- Increased insurance premiums following incidents
The average cost per business email compromise incident is $129,000 — a loss that could devastate many small enterprises at the busiest time of year.
Keep Your Holidays Safe and Successful
The holiday season should focus on growth and celebration — not costly fraud cleanup. A quick team meeting, a few smart policies, and layered defenses can significantly reduce your risk.
Remember, the Orion employee could have prevented a $60 million loss with just one verification call. With the right awareness and simple checks, your business can avoid becoming the next cautionary headline.
Ready to protect your team before the New Year? Click here or call us at 720-449-3379 to schedule a 15-Minute Discovery Call. We'll guide you through quick, practical steps to safeguard your business. Don't let cybercriminals ruin your holiday success because the best gift this season is peace of mind.
