The festive season is a time of joy, increased sales, and bustling customer activity. Unfortunately, it is also a prime time for cybercriminals and scammers to strike. Keep your business cyber secure with our advice.

With businesses focused on handling holiday orders, customer inquiries, and festive promotions, the potential for online crime and fraud escalates at this time of year. A lapse in security during this busy period can lead to costly consequences.

This blog will help you understand common online threats during the festive season and provide practical strategies to keep your business safe.

Why the festive season is high-risk for cybercrime

During the festive season, several factors create a perfect storm for cybercrime:

• Increased Online Transactions: As sales surge, cybercriminals exploit vulnerabilities in payment systems and e-commerce platforms.

• Heightened Distraction: Employees may be less vigilant due to increased workloads or holiday cheer, making human error more likely.

• Greater Customer Communication: Scammers leverage fake promotions, order updates, or festive offers to deceive employees and customers alike.

• Reduced Oversight: With staff on leave, some security measures may be neglected.

All of these factors provide opportunities for fraudsters to strike. Staying aware of potential risks is the first step toward safeguarding your business.

Common types of online scams and fraud

1. Phishing Emails and SMS Scams

Phishing remains one of the most common tactics used by cybercriminals. These scams often appear as legitimate emails or text messages claiming to be from banks, shipping companies, or customers.

2. Fake Invoices and Payment Fraud

Scammers send fake invoices that look genuine, often requesting immediate payment. They might also exploit the rush to process orders to trick employees into redirecting payments to fraudulent accounts.

3. Ransomware and Malware Attacks

Cybercriminals may use ransomware to lock your systems until a ransom is paid or insert malware through infected attachments, compromising your business data.

4. Fake Customer Support Scams

Fraudsters may impersonate customer support agents, offering “help” while attempting to steal sensitive information or install malware on your system.

5. Fraudulent Promotions and Offers

Fake discounts, promotions, or gift cards may lure customers and employees to malicious sites, harming both your brand reputation and data security.

How to protect your business

1. Educate and Train Employees

• Security Awareness Training: Conduct security awareness training sessions on identifying phishing emails, suspicious links, and social engineering tactics.

• Regular Updates: Keep employees informed about the latest scam trends, especially during the festive season.

• Simulated Drills: Consider running mock phishing campaigns to test employees’ responses and reinforce best practices.

  
  

2. Strengthen Security Systems

• Multi-Factor Authentication (MFA): Enable MFA on all essential systems to add an extra layer of protection.

• Update Software: Ensure your operating systems, firewalls, and antivirus software are up-to-date with the latest security patches.

• Secure Payment Gateways: Work with trusted and secure payment service providers to minimise the risk of payment fraud.

  
  

3. Monitor Transactions Closely

• Fraud Detection Tools: Use AI-based tools to identify unusual patterns in transactions.

• Verify Payments: Always double-check high-value or unusual payment requests, especially those received via email.

• Enable Alerts: Set up real-time alerts for large transactions, changes in payment details, or suspicious login attempts.

  
  

4. Implement Secure Communication Channels

• Encrypted Emails: Use encrypted email services to protect sensitive communications.

• Verified Contact Methods: Only use verified methods for sensitive customer and supplier communication.

  
  

5. Have a Clear Incident Response Plan

• Preparedness: Ensure your business has a robust incident response plan in place to handle security breaches promptly.

• Employee Roles: Clearly define roles and responsibilities for handling cyber incidents.

• Regular Drills: Test your response plan through simulations and make improvements where necessary.

  
  

6. Customer Awareness

• Inform Customers: Let your customers know how they can verify legitimate communications from your business.

• Public Warnings: Warn customers about any known scams or fraudulent activities that could affect them.

• Secure Website: Ensure your website has HTTPS encryption and visible trust indicators, such as security badges, to reassure customers.

Red Flags to Watch Out For

During the festive rush, remain vigilant for these common warning signs:

• Urgent Requests: Emails or calls pressuring for immediate action, such as urgent payments or login verification.

• Suspicious URLs: Links that seem slightly different from the real domain (e.g., “amaz0n.com” instead of “amazon.com”).

• Attachments from Unknown Senders: Unexpected files, especially if they prompt you to enable macros or download software.

• Requests for Personal Information: Messages asking for passwords, payment details, or other sensitive data.

  
  

Final Thoughts

The festive season is a time of opportunity, but also of risk. As online activity surges, so does the potential for cybercrime. By staying informed, training your team, and implementing strong security measures, you can protect your business, your customers, and your reputation.

Remember: A little caution today can prevent a major disaster tomorrow. This festive season, stay vigilant, stay safe, and ensure your business thrives securely.

Reporting

Report all Fraud and Cybercrime to Action Fraud by calling 0300 123 2040 or online. Forward suspicious emails to report@phishing.gov.uk. Report SMS scams by forwarding the original message to 7726 (spells SPAM on the keypad).