The holiday season brings joy and festivities, but also increases cyber threats. As businesses wind down for the year, cybercriminals exploit the distractions and vulnerabilities that come with it. Now is an ideal time to review your cyber security strategy and budget for the next financial year.
Below, we highlight 8 critical areas where businesses are most vulnerable during the festive season and provide actionable steps to strengthen your defences.
With cyber-attacks rising in volume and sophistication, taking proactive measures ahead of the holidays will help protect your organisation well into the new year.
Overview:
The festive season brings distractions as employees balance year-end tasks with holiday plans. This divided attention can lead to reduced security awareness, making it easier for cybercriminals to succeed.
The Challenge:
Recent studies from 1Password have shown that 45% of employees become distracted during the holiday season, making them more likely to fall for phishing scams or miss red flags in their inboxes.
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Overview:
With holiday shopping moving primarily online, phishing scams, fake websites, and malicious ads spike dramatically, creating additional risks for employees using work devices for personal shopping.
The Challenge:
Research published by Egress revealed a 237% increase in phishing attempts imitating major brands in the lead-up to Black Friday. This can result in malicious downloads or compromised credentials that affect your organisation’s work.
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Overview:
During the holidays, employees are often drawn in by last-minute deals and holiday trip offers, which attackers use to trick them into clicking malicious links or sharing personal information.
The Challenge:
Cybercriminals often craft fake travel deals or limited-time offers to exploit employees’ urgency during this period (Source: Fortinet). The figures from the National Fraud Intelligence Bureau (NFIB) show that victims lost on average £1,000 per person. Falling for these scams could lead to network breaches via compromised credentials.
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Overview:
The festive season is a time for giving, but it also presents opportunities for attackers to exploit the goodwill of employees through fake charity campaigns and donation sites.
The Challenge:
Cybercriminals mimic legitimate charity organisations and steal personal and financial information. These scams often come via email or social media. The UK Charity Cyber Threat Report 2023 from the National Cyber Security Centre (NCSC) said that £1.5million was lost to charity fraud.
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Overview:
Security teams are often stretched thin during the holiday season, with many employees on leave and rushing to complete year-end tasks, such as payroll processing and billing with vendors or suppliers. This limited staffing can lead to delayed responses to potential threats, increasing vulnerability to attacks.
The Challenge:
Cybercriminals frequently target businesses during weekends and holidays when security coverage is limited. This can significantly delay detection and response to attacks. In 2022, Guardian Media Group confirmed that their 20th December cyber attack left the staff locked out of its offices, print production, payroll, and expense systems.
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Overview:
Ransomware attacks remain one of the most severe threats during the holiday season. Cybercriminals exploit the downtime to launch attacks that can cripple operations.
The Challenge:
According to Darktrace data, ransomware attempts increase by up to 70% during the holiday months. These attacks often result in significant operational downtime and hefty ransom demands.
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Overview:
With many businesses experiencing higher-than-usual web traffic during the holiday season, Distributed Denial of Service (DDoS) attacks can disrupt essential online services.
The Challenge:
Cybercriminals use DDoS attacks to overload business systems, leading to costly service outages during peak business times. Microsoft reported that Azure’s robust security infrastructure automatically mitigated a peak of 3,500 attacks daily over the 2023 holiday period.
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Overview:
Attackers increasingly use social engineering tactics during the holidays, taking advantage of reduced vigilance to steal employee credentials.
The Challenge:
A rise in credential theft has been linked to social engineering attacks, where employees are tricked into revealing sensitive information.
Recommended Solutions:
As the holiday season approaches, it’s more important than ever to ensure your organisation is well-prepared. Schedule a free 30-minute consultation with our cyber security experts to review your current security measures and explore how you can better protect your business in the new year.