The Holiday Phishing Scam That Cost One Company $60 Million And How to Protect Yours

Why Holiday Phishing Scams Target Small Businesses

The holiday season is supposed to be a time of cheer but it’s also prime time for cybercriminals. As employees rush to wrap up the year, hackers take advantage of distraction and urgency to launch holiday phishing scams for small business owners and their teams.

One recent scam cost a major company over $60 million, but smaller businesses in Arkansas and Oklahoma are hit even harder. They’re easier targets and they can’t afford the damage.

How Holiday Phishing Scams for Small Business Work

Criminals use realistic e-mails and websites to trick employees into clicking malicious links, downloading files, or sharing login credentials. These messages often look like:

• “Urgent invoice” or “vendor payment” requests

• “Shipping delays” or “delivery updates” from UPS or FedEx

• “Gift card” or “charity” solicitations during the giving season

Even the most careful employee can be fooled when the inbox is overflowing.

The Real Cost of a Phishing Attack

For small businesses, the financial hit is only part of the story. A single holiday phishing scam can lead to:

• Data loss and compliance fines

• Customer trust damage

• Disrupted operations and downtime

• Expensive recovery costs

According to IBM’s 2024 Cost of a Data Breach Report, the average incident costs $4.88 million but even $40,000 could cripple a small operation.

How to Protect Your Business from Holiday Phishing Scams

At Preferred Office Technologies, we help businesses in Arkansas and Oklahoma take simple, proactive steps to block phishing threats before they hit.

Here’s what you can do right now:

1️⃣ Train Your Team

Hold a quick refresher on how to spot phishing attempts especially those with holiday themes.

2️⃣ Enable Multifactor Authentication (MFA)

MFA can stop 99% of account takeovers, even if a password is stolen.

3️⃣ Deploy Endpoint Detection and Response (EDR)

EDR continuously monitors devices for suspicious behavior, stopping attacks in real time.

4️⃣ Verify Vendors and Payments

Always confirm account or payment changes through a separate channel not e-mail.

Stay Safe from Holiday Phishing Scams for Small Business

You can’t control what cybercriminals send but you can control your response. This holiday season, protect your team, your customers, and your data.

At Preferred Office Technologies, we’re helping businesses across Arkansas and Oklahoma stay secure with customized cybersecurity solutions.

🔗 Visit our contact page to get started: www.preferred-office.com/contact