The holiday season is a time for joy, connection, and celebration. But for cybercriminals, it’s peak hunting season. With consumers and businesses busier than ever, the holiday period provides the perfect conditions for a surge in cyber attacks.
Why Cybercrime Peaks During the Holidays
The holiday rush creates a golden opportunity for cybercriminals. Increased online shopping, hectic work schedules, and a general sense of urgency make people more susceptible to scams and phishing attempts. Whether it’s a fake shipping notification, a too-good-to-be-true discount, or a fraudulent email disguised as a holiday greeting, malicious actors know how to exploit the moment.
Businesses are also prime targets. As organisations focus on closing the financial year, cybercriminals take advantage of overworked teams, outdated systems, and the general frenzy of the season.
Cybercrime by the Numbers
The statistics are sobering:
- Online Shopping Scams: In 2024, over $3.4 million was lost to online shopping scams in Australia alone, with 12,400 reports filed. Fake websites, counterfeit deals, and fraudulent ads top the list of threats.
- Rise in Cybercrime Reports: During the 2022–23 financial year, the Australian Cyber Security Centre (ACSC) received over 94,000 cybercrime reports—a staggering 23% increase from the previous year. That’s an average of one report every 1.2 minutes.
- Consumer Vigilance: Despite increasing awareness, nearly 60% of Australians admit to falling for or narrowly avoiding scams, particularly during high-pressure sales events like Black Friday and Cyber Monday.
The Threats You Need to Know
Cybercriminals have an arsenal of tactics designed to exploit vulnerabilities. Here are the most common:
- Phishing Emails: Often disguised as receipts, shipping updates, or special offers, these emails trick users into clicking malicious links or sharing sensitive information.
- Fake Websites: Fraudulent e-commerce sites mimic legitimate retailers to steal credit card details or sell counterfeit goods.
- Delivery Scams: With parcel deliveries at an all-time high, fake notifications lure victims into revealing personal or financial information.
- Malware and Ransomware: Clicking the wrong link or downloading a suspicious attachment can infect devices, locking them down or stealing sensitive data.
The Real-World Impact
The consequences of cybercrime during the holiday season extend beyond financial losses. Individuals risk identity theft, while businesses face operational downtime, reputational damage, and regulatory penalties.
Imagine this: A small online retailer falls victim to a ransomware attack in mid-December. With systems locked down, they’re unable to process orders or access customer data. Not only do they lose revenue, but their customers lose trust—a double blow during what should have been their busiest season.
Businesses Are Not Immune
For businesses, the stakes are higher than ever. Employee devices used for personal shopping, outdated software, and lack of cybersecurity protocols create vulnerabilities that attackers can exploit. A single breach can disrupt operations, leak sensitive data, or result in fines for non-compliance.
Small and medium-sized businesses are especially at risk. Limited IT resources often mean less robust security measures, making them attractive targets for cybercriminals.
Emerging Threats to Watch For
Cyber threats are evolving. Beyond traditional phishing and malware, newer tactics include:
- Cryptocurrency Scams: Fraudulent investment schemes that promise high returns.
- Deepfake Technology: Sophisticated impersonations used to trick employees into transferring funds or sharing sensitive information.
- Social Engineering: Manipulative tactics designed to exploit trust, such as posing as a colleague or trusted vendor.
With threats becoming more advanced each year, staying vigilant is critical. In our next blog, we’ll share practical steps you can take to stay safe—and how Corp IT can help you protect your business from these evolving risks.
