Holiday Cybersecurity Alert: How to Stay Protected from Rising Attacks

The holiday season is a time for celebration, connection, and, unfortunately, cybercrime. While many of us are focused on family, festivities, and year-end planning, attackers are working overtime to exploit distractions and vulnerabilities. According to the FBI, cybercrime losses hit $16.6 billion in 2024, a 33% increase from 2023, with ransomware remaining the most pervasive threat to critical infrastructure. 

So why do cyber threats surge during the holidays, and what can you do to protect yourself and your organization?

Why Cybercriminals Target the Holidays

1. Increased Online Activity: From shopping for gifts to managing finances, people spend more time online during the holidays. This surge creates more opportunities for attackers to exploit weaknesses. Verizon’s 2024 Data Breach Investigations Report (DBIR) found that credential theft was involved in 38% of breaches, phishing accounted for 15%, and exploited vulnerabilities skyrocketed by 180%, now responsible for 14% of breaches.
2. Remote Work and Travel Risks: Working from airports or coffee shops on unsecured Wi-Fi can expose sensitive data. One quick email from a public network could open the door to a breach.
3. Holiday-Themed Scams: Cybercriminals know consumers are hunting for deals. Fake shipping updates, cloned sale pages, and phishing emails offering “too-good-to-be-true” discounts are common tactics. AI-driven scams surge during the holidays and in 2024 Christmas-themed phishing attacks increased 327% during Black Friday.
4. Distraction and Urgency: The holiday rush means lower vigilance. Stress and time pressure makes individuals more likely to click unfamiliar links or respond to urgent messages without verifying authenticity. Attackers count on this lapse in judgment.
5. Reduced IT Coverage: With many IT professionals on PTO, organizations relying on in-house teams may lack the resources to monitor and respond to threats promptly. This delay can turn a minor incident into a major outage.

Finance Industry in the Crosshairs

Financial institutions are prime targets during the holidays. Increased transaction volumes, year-end reconciliations, and bonus payouts create a perfect storm for attackers. Threat actors exploit this activity with tactics like Business Email Compromise (BEC), Credential stuffing on banking portals and payment systems, and ransomware attacks.

According to Sophos’ 2024 State of Ransomware in Financial Services, 65% of financial services organizations were hit by ransomware in 2024, with the average cost to recover from an attack reached $2.58 million, up from $2.23 million in 2023.

How to Protect Your Business This Season

• Educate and Prepare: Train employees to spot phishing attempts and have an incident response plan ready.
• Update and Backup: Keep systems patched and regularly back up critical data.
• Leverage Experts: Consider partnering with a Managed Security Service Provider (MSSP) for 24/7 monitoring and rapid response.
• Secure Email and Endpoints: Implement advanced email security and endpoint detection solutions to block malicious activity.
• Plan for the Unexpected: Cyber threats don’t take holidays—make sure your defenses don’t either.

Stay Safe, Stay Ahead

Cybersecurity isn’t seasonal—it’s essential. As you enjoy the holidays, don’t let attackers enjoy a payday. Partner with Abacus Group for proactive, enterprise-grade security solutions that keep your business protected year-round.

Ready to strengthen your defenses? Contact us today to learn how Abacus Group can help safeguard your organization this holiday season and beyond.