November 03, 2025
Last December, an accounts payable clerk at a midsize company received an urgent message that appeared to be from her "CEO": Purchase $3,000 in Apple gift cards for clients, scratch off the codes, and email them immediately. Although it seemed suspicious, the request came in the boss's name during the hectic holiday season. Before she realized the truth, the scammer had already cashed out the cards, leaving the company with the loss.
While this scam caused financial pain, other frauds can devastate an entire business. For example, that same month, Orion S.A., a chemical manufacturer in Luxembourg, lost sixty million dollars through a sophisticated scheme. An employee received what looked like typical urgent transfer requests by email, seemingly from trusted colleagues or partners. Without hesitation, multiple wire transfers were made as instructed.
The devastating outcome was over half of the company's annual profits vanished into cybercriminals' hands.
Think your small business is too minor to be targeted? Think again. In 2023, gift card scams alone drained more than $217 million from companies, while business email compromise accounted for 73% of cyberattacks in 2024. The holiday season is a prime opportunity for attackers because teams are distracted, stressed, and handling more transactions than ever.
5 Holiday Scams Your Employees Must Recognize (Before They Drain Your Wallet)
1. "Your Boss Needs Gift Cards" (The $3,000 Text Trap)
- The Scam: Fraudsters impersonate owners or managers, pressuring staff to purchase gift cards for "clients" or "employee appreciation." In Q1 2024 alone, 37.9% of business email compromises involved gift card fraud.
- How to Prevent: Implement strict company policies requiring two approvals before any gift card purchase. Train employees that executives will never ask for gift cards via text messages.
2. Invoice & Payment Redirection (The High-Stakes Scheme)
- The Scam: Cybercriminals send "updated banking information" or hijack vendor email threads just as year-end payments are due. In June 2024, Arlington, MA lost nearly $500,000 this way.
- How to Prevent: Always verify banking changes using a trusted phone number, never the one in the email. Enforce a "phone call rule" for financial updates above $5,000.
3. Counterfeit Shipping & Delivery Alerts
- The Scam: Phishing emails or texts masquerade as UPS/FedEx/USPS with links claiming "reschedule delivery."
- How to Prevent: Train your team to avoid clicking links and instead navigate directly to courier websites. Bookmark official tracking pages to evade malicious links.
4. Harmful "Holiday Party" File Attachments
- The Scam: Emails containing attachments titled "Holiday_Schedule.pdf" or "Party_List.xls" that unleash malware when opened.
- How to Prevent: Block macros, scan all attachments thoroughly, and cultivate a culture where verifying unexpected files is routine.
5. Fraudulent Holiday Fundraisers
- The Scam: Phishing websites impersonate charities or fake "company match" drives aiming to steal funds or sensitive data.
- How to Prevent: Provide an approved charity list and ensure all donations flow through official channels only.
Why These Scams Succeed (And How To Defend Against Them)
Modern business tools like email, online banking, and digital payments, while essential for efficiency, are exactly what hackers exploit. These aren't crude scams; they are highly targeted assaults combining social engineering and inside knowledge of your company.
Businesses conducting frequent phishing drills cut their risk by 60%, yet most small companies skip this vital training. Multifactor authentication (MFA) prevents 99% of unauthorized logins, yet many still rely solely on passwords.
Your Ultimate Holiday Protection Checklist
Prepare your business now before the holiday season peaks:
- The Two-Person Rule: All transactions above your threshold require verbal confirmation via separate channels.
- Gift Card Policy: Formalize a strict ban on gift cards requested via email or text.
- Vendor Verification: Always confirm any banking or payment changes by calling numbers already on file.
- Multifactor Authentication: Activate MFA for all email, banking, and cloud accounts.
- Holiday Awareness: Educate your team about these five scams sharing real case studies.
The True Impact: More Than Dollars Lost
Orion's $60 million setback made headlines, but the hidden toll on smaller firms is often more devastating:
- Operational disruptions during critical sales periods
- Lost productivity due to crisis management
- Damaged customer trust if sensitive client data leaks
- Rising insurance premiums following cyber incidents
The average financial hit from a business email compromise is $129,000 — enough to shutter many small businesses, especially during the crucial holiday season.
Ensure Your Holidays Are Joyful, Not Chaotic
The festive season should focus on growth and celebration — not recovering from wire fraud. Just a quick team briefing, robust policies, and layered security measures can shield your company from costly cybercriminal schemes.
Remember, the employee at Orion could have prevented a $60 million loss with a simple verification call. With awareness and straightforward safeguards, your business can stay protected and thrive this holiday season.
Ready to secure your team before the New Year? Click here or call us at 952-941-7333 to book a Consult, where we'll guide you through effective, practical steps to safeguard your business. Don't let cybercriminals ruin your holiday success — the best gift you can give your business this season is peace of mind.
