Last December, an accounts payable clerk got what looked like a simple text from her CEO:
“Grab $3,000 in Apple gift cards for clients and send me the codes ASAP.”
It sounded odd, but it was peak holiday chaos. She trusted the name on the message, rushed to help. By the time she realized it was a scam, the cards (and the cash) were gone. Cashed out by the scammer.
That story’s painful… but another company had it much worse.
Orion S.A., a Luxembourg-based chemical manufacturer, wired $60 million straight to cybercriminals after receiving what appeared to be “routine” e-mails from a trusted partner. Everything looked normal, until the money vanished.
If you think your small business is too small to be a target, think again.
Last year, gift card scams alone cost U.S. businesses over $217 million, and business e-mail compromise attacks made up 73% of all cyber incidents.
And there’s one season when scammers strike the most: the holidays.
When your team is distracted, busy, and just trying to finish the year strong, that’s when they pounce.
5 Holiday Scams You Need To Warn Your Team About
- The “Your Boss Needs Gift Cards” Text
Scammers impersonate executives, asking employees to “buy gift cards for clients.” In Q1 2024 alone, 37.9% of business e-mail compromise incidents were gift-card schemes.Fix it: Create a no-exceptions policy: no gift cards without two approvals, ever. - Invoice & Payment Switch-Ups
Fraudsters send “updated banking details” right before year-end payments are due.Fix it: Always confirm banking changes by phone using a known number and not the one in the e-mail. - Fake Shipping Notifications
“Your UPS package is delayed” — complete with a link that installs malware.Fix it: Bookmark official carrier websites and never click tracking links from e-mails. - Malicious Holiday Party Attachments
“Holiday_Schedule.pdf” or “Employee_Gift_List.xls” may sound festive but can hide viruses.Fix it: Scan attachments, block macros, and make it normal to double-check before opening. - Bogus Charity or Donation Scams
Fake fundraisers and “company match” campaigns pop up everywhere this time of year.Fix it: Share a list of verified charities and run all donations through your official channels.
Why These Scams Work
The same tools that make business easier: e-mail, digital payments, cloud systems, also make it easier for scammers too.
Scammers research your team, learn your tone, and strike when things are busy.
But here’s the good news: a few smart defenses stop most of these attacks cold.
Organizations that train employees regularly cut their risk by 60%, and multifactor authentication blocks 99% of unauthorized logins.
Your Holiday Cyber Safety Checklist
Before things get too busy, make sure you have these in place:
Payment Verification: Any payment over your set threshold requires verbal confirmation.
Gift Card Policy: Put “do not honor gift card request via text or e-mail” in writing as company policy .
Vendor Verification: Always confirm payment changes with a known contact.
MFA Everywhere: On every account, every time.
Team Awareness: Take five minutes in your next staff meeting to review these scams.
The Real Cost of Getting It Wrong
Orion’s $60 million loss made headlines, but for most small businesses, a single scam can be devastating.
Lost productivity, client trust, and insurance costs can hit long after the money’s gone.
The average loss per business e-mail compromise attack? $129,000.
That’s enough to derail holiday payroll or wipe out next quarter’s profits.
Keep Your Holidays Merry (and Your Business Secure)
The holidays should be about celebrating wins, not cleaning up wire fraud.
A quick conversation, a few smart policies, and a culture of double-checking can stop the next scam before it starts.
One phone call could’ve saved Orion $60 million.
For your team, it might just save the holiday season.
Want help checking your defenses before year-end?
Schedule a free 15-minute discovery call, and we’ll walk you through practical, fast ways to secure your business.
Because the best gift you can give your business this year… is peace of mind.
