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Cybercriminals Capitalise on Festive Season: How Businesses Can Stay Protected

  • Publish Date: Posted 20 December 2024
  • Author: Gina Le Prevost FIRP DipRP, CEO

​The festive season, a time of celebration and goodwill, has become a lucrative period for cybercriminals targeting distracted and understaffed organisations. With many businesses operating on skeleton crews and employees using unsecured networks while travelling, the holiday period presents a perfect storm of vulnerabilities. Recent studies paint a troubling picture of the holiday cybersecurity landscape. Research indicates nearly half of UK businesses experience a surge in phishing emails during December. These attacks often impersonate senior executives, requesting urgent financial actions or access to sensitive data.

The timing is no coincidence. A report from cybersecurity firm Semperis found that 86% of ransomware attacks are executed over weekends or public holidays when IT resources are limited. Adding to the risk, employees working remotely during the festive period often rely on public WiFi, making it easier for hackers to intercept critical information. Cybercriminals employ a variety of strategies to exploit businesses, including fake executive emails—known as Business Email Compromise (BEC)—that impersonate executives to request gift cards, money transfers, or confidential files. Seasonal phishing lures, such as counterfeit holiday e-cards or fraudulent charity appeals, are crafted to appear festive but deliver malicious payloads. Social engineering tactics also take advantage of employees’ distractions, relying on psychological manipulation to breach defences.

Businesses must prioritise cybersecurity training to equip employees with the skills to recognise phishing attempts. Simulating phishing scenarios is a proven way to test and improve awareness. Encouraging staff to use Virtual Private Networks (VPNs) and secure devices for work-related tasks is essential, as is avoiding public WiFi unless protected by a reliable VPN. Centralised communication platforms, like Microsoft Teams or Slack, ensure employees can easily report suspicious activities, while having a clear chain of command during holiday periods helps prevent fraud. Developing a robust incident response plan, including clear escalation paths, key contact details, and protocols for isolating compromised systems, is another critical step.

The cost of inaction can be severe. Statistics reveal that 48% of UK businesses lack adequate cybersecurity training, and more than a third have no measures in place to prevent cyberattacks. Without a strong incident response plan, organisations face prolonged downtime and reputational damage in the event of a breach. The holiday period serves as a reminder that cybersecurity is a year-round responsibility. By investing in preventive measures, businesses can protect their operations and staff from the costly consequences of cyberattacks.

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