Last December, an accounts payable clerk at a midsize company received an urgent text from her “CEO”:
“Buy $3,000 worth of Apple gift cards for clients, scratch the backs, and email the codes.”
It sounded odd, but the message came from her boss’s name and it was peak holiday chaos. By the time she verified the request, it was too late. The scammer had cashed out, and the business had eaten the loss.
That may sound like an isolated mistake, but it’s part of a much bigger problem. Around the same time, Orion S.A., a Luxembourg-based chemical manufacturer, lost $60 million to a sophisticated wire-transfer scam wiping out more than half of its annual profits.
If you think your small business is too small to be a target, think again. Gift-card scams cost businesses $217 million in 2023, and 73% of all cyber incidents in 2024 were linked to business email compromise (BEC). The holidays are prime time for these attacks your team is busy, distracted, and handling more transactions than usual.
5 Holiday Scams That Could Cost Your Company Thousands
- The “Your Boss Needs Gift Cards” Trap
The Scam: Impostors pose as owners or executives and request gift cards for “client gifts” or “staff bonuses.”
The Fix: Create a written policy: No gift cards without two approvals. Train employees that executives will never request them via text or email.
- Invoice & Payment Switch-Ups
The Scam: Criminals send fake “updated banking details” or hijack vendor email threads just as bills are due.
The Fix: Always confirm payment changes using a verified phone number never the one listed in an email.
- Fake Shipping or Delivery Notifications
The Scam: Fraudulent emails or texts pose as UPS, FedEx, or USPS messages containing malicious links.
The Fix: Type carrier websites directly into your browser and bookmark legitimate tracking pages.
- “Holiday Party” Attachments
The Scam: Malware hidden in attachments like “Holiday_Schedule.pdf” or “Party_List.xls.”
The Fix: Disable macros, scan attachments, and verify any unexpected files before opening.
- Bogus Holiday Fundraisers
The Scam: Fake charity websites or “company match” campaigns that steal data or funds.
The Fix: Use an approved charity list and ensure all donations go through verified portals.
Why These Scams Work (and How to Stop Them)
Cybercriminals rely on the same digital tools that make your business efficient email, online banking, and digital payments. These scams use social engineering and targeted research to appear completely legitimate.
- Companies that run regular phishing simulations reduce risk by 60%.
- Multifactor authentication (MFA) blocks 99% of unauthorized logins.
- Yet many small businesses still depend on passwords alone.
Your Holiday Cybersecurity Checklist
- Two-Person Rule: Require verbal confirmation for any transaction above a set threshold.
- Gift Card Policy: Never approve gift card purchases via email or text.
- Vendor Verification: Confirm payment changes by phone using known numbers.
- Enable MFA: Protect email, banking, and cloud accounts.
- Team Awareness: Review these scams before the holiday rush begins.
The Real Cost of Cybercrime for Small Businesses
While Orion’s $60 million loss made international headlines, smaller businesses in Dallas-Fort Worth often feel a bigger impact when hit by cyberattacks.
The hidden costs can include:
- Operations halting during peak season
- Productivity loss during recovery
- Customer trust erosion
- Rising insurance premiums
The average business email compromise loss is $129,000 enough to cripple many small businesses.
Keep Your Holidays Secure and Your Business Thriving
The holidays should be about growth and celebration, not cleaning up financial chaos. With a few key policies, basic training, and modern IT protection, you can stop these scams before they start.
Remember: A single verification phone call could have prevented Orion’s $60 million loss.
Want to make sure your business is protected before the new year?
Schedule your free Security Assessment with our Dallas-Fort Worth cybersecurity experts today.
Because the best gift you can give your business this holiday season is peace of mind.
