Last December, an accounts payable clerk at a midsize company received an urgent text from someone posing as the CEO. The message said to buy $3,000 worth of Apple gift cards for clients, scratch the backs and email the codes. It seemed a little odd, but it came from the boss’s name, and the office was busy with holiday chaos. By the time she double-checked, the cards were gone, the scammer had cashed out and the business was left with the loss.
That kind of scam hurts, but others can be devastating. That same month, Orion S.A., a chemical manufacturer in Luxembourg, fell victim to a much larger con. An employee received what looked like routine payment requests from someone they trusted. Everything appeared legitimate. The employee processed multiple wire transfers without a second thought.
The result was sixty million dollars wired straight to cybercriminals. More than half the company’s annual profit disappeared through fraudulent transfers.
Small businesses often think they are too small to be targets. The truth is the opposite. Gift card scams alone cost companies over $217 million in 2023. Business email compromise made up 73 percent of all cyber incidents in 2024. The holiday season is a prime time for these attacks because criminals know teams are busy, distracted and processing more transactions than usual.
5 Holiday Scams Employees Should Know Before They Cost the Company Thousands
1. “Your Boss Needs Gift Cards”
Scammers impersonate executives and pressure staff into buying gift cards for clients or appreciation. In early 2024, nearly 38 percent of business email compromise incidents involved this scam.
Prevention: Put a two-approval rule in place and train staff that leadership will never request gift cards by text.
2. Invoice and Payment Switch Ups
Fraudsters send fake banking details or hijack vendor email threads during year end payments.
Prevention: Confirm any banking change through a trusted phone number already on file.
3. Fake Shipping and Delivery Notices
Phishing emails pretend to be UPS, FedEx or USPS with fake delivery links.
Prevention: Go directly to the official website instead of clicking links.
4. Malicious “Holiday Party” Attachments
Emails with attachments like “Holiday_Schedule” or “Party_List” that install malware once opened.
Prevention: Block macros, scan attachments and make verification part of the workflow.
5. Bogus Holiday Fundraisers
Scammers create fake charity or company match campaigns to steal money or data.
Prevention: Use an approved charity list and official donation portals only.
Why These Attacks Work
The same tools that keep businesses efficient are what criminals exploit. These are not cartoonish scams. They are sophisticated, researched attacks using social engineering.
Regular phishing simulations can lower risk by 60 percent. Multifactor authentication blocks 99 percent of unauthorized access. Yet many small businesses skip these steps.
Your Holiday Cybersecurity Checklist
- Use the two-person rule for large transactions
- Put clear gift card policies in writing
- Verify all vendor or payment changes by phone
- Turn on multifactor authentication for all accounts
- Brief your team on these scams before the holidays hit full speed
The Real Cost Goes Beyond Money
The $60 million Orion loss made headlines, but smaller companies feel the pain even more:
- Operations shut down during critical periods
- Lost productivity while cleaning up the mess
- Damaged customer trust
- Rising insurance premiums
The average loss per business email compromise attack is $129,000. For many small businesses, that is enough to cause real harm.
Keep Your Holidays Merry, Not Messy
The holidays should be a time to celebrate growth, not fight wire fraud. A quick staff meeting, smart policies and layered security can protect your business.
One phone call could have saved Orion millions. The right awareness and simple checks can keep your business off the front page for the wrong reason.
👉 Want to make sure your business is protected this season? Book a free 15 minute discovery call and let’s walk through practical steps to keep your team and data safe.
Cybersecurity. Holiday readiness. Real protection.
Because the best gift you can give your business is peace of mind.