The Holiday Scam That Cost One Company Million (And How to Protect Yours)

Don’t Let Cybercriminals Turn Your Holiday Season Into a Financial Nightmare

The holidays are supposed to be a time for celebration — not cybersecurity chaos. Unfortunately, cybercriminals know this is when most businesses are at their busiest and most distracted. Every December, small businesses in Louisville and the surrounding region face a surge in scams targeting finance teams, executives, and employees.

One costly example? Last year, an accounts payable clerk received a text from her “CEO” asking for $3,000 in Apple gift cards for clients. It seemed urgent and came from her boss’s name. Within minutes, the codes were gone — and so was the money.

That same month, a much larger company, Orion S.A., a Luxembourg-based manufacturer, lost a staggering $60 million in a fraudulent wire transfer scam. What began as an e-mail from a “trusted partner” turned into multiple unauthorized transfers — wiping out more than half the company’s annual profit.

Here’s the reality: Louisville’s small and midsize businesses are just as vulnerable. In 2024, business e-mail compromise (BEC) accounted for 73% of all cyber incidents, with losses surpassing $217 million from gift card scams alone.

🎁 5 Holiday Scams Every Business Owner Needs to Watch For

  1. “Your Boss Needs Gift Cards” – The $3,000 Text Trap
  • The Scam: Criminals impersonate company leaders asking employees to urgently buy gift cards for “clients” or “team rewards.”
  • The Fix: Establish a company-wide policy — no gift cards without written approval from at least two executives. Train employees that Service Solutions Inc. will never request purchases through text or e-mail.
  1. Fake Invoices and Payment Redirection
  • The Scam: Hackers intercept vendor communications and send “updated banking details” that redirect payments.
  • The Fix: Always confirm banking or payment changes by phone using a verified number on file — not one listed in the e-mail. Implement a “call-before-you-wire” policy for all payments over $5,000.
  1. Phony Shipping or Delivery Notifications
  • The Scam: Fraudulent e-mails or texts mimic UPS, FedEx, or USPS asking you to “reschedule a delivery” or “verify an address.”
  • The Fix: Never click links in e-mails. Go directly to the carrier’s website using a bookmark or manual search.
  1. “Holiday Party” Attachments with Malware
  • The Scam: Attachments like “Holiday_Schedule.pdf” or “Party_List.xls” carry hidden malware that infects your network.
  • The Fix: Block macros in attachments and verify any unexpected files with the sender before opening. Service Solutions Inc. recommends managed e-mail filtering and 24/7 network monitoring to stop these before they reach your inbox.
  1. Fake Charity and Donation Scams
  • The Scam: Phishing sites mimic legitimate charities or fake “company match” campaigns.
  • The Fix: Share a verified list of approved charities. Only donate through trusted, secure portals — never from an unsolicited e-mail.

⚠️ Why These Scams Work

Cybercriminals are organized, patient, and sophisticated. They research your company, mimic your vendors, and exploit human trust. During the holidays, that’s a recipe for disaster.

A few sobering stats:

  • Companies that don’t train employees are 60% more likely to fall victim to phishing.
  • Multifactor Authentication (MFA) blocks over 99% of unauthorized access attempts — yet many SMBs still don’t use it.

🛡️ Your Louisville Cybersecurity Holiday Checklist

To stay protected, follow these key steps before the holidays hit full swing:

  • ✅ Two-Person Rule: Require dual approval for any large transaction.
  • ✅ Gift Card Policy: Ban purchases requested via e-mail or text.
  • ✅ Vendor Verification: Confirm all account changes with verified contacts.
  • ✅ Enable MFA: Protect all e-mail, cloud, and banking accounts.
  • ✅ Team Training: Conduct a 15-minute security refresher before year-end.

💰 The True Cost of Ignoring Cybersecurity

For small businesses across Kentucky, Indiana, and Ohio, the financial and reputational impact of a cyberattack can be devastating:

  • Operations grind to a halt during your busiest season.
  • Staff productivity drops as you scramble to recover.
  • Customer trust erodes if their data is compromised.
  • Insurance premiums rise after a breach.

The average loss per BEC attack is $129,000, and many businesses never fully recover.

🎄 Keep Your Holidays Merry — and Cyber Secure

The best gift you can give your business this holiday season is peace of mind.

At Service Solutions Inc., we help Louisville-area businesses protect their data, train employees, and prevent costly breaches with proactive cybersecurity and managed IT services.

Schedule your FREE Cybersecurity Assessment today — and let’s ensure your business stays secure, productive, and ready to thrive in 2025.

📞 Call 502-493-0811 or visit www.servicesolutions.us to get started.