Why Christmas is Prime Time for Cyber Attacks - and How to Protect Your Business‍

As the festive season approaches, some businesses are gearing up for their busiest time of year, while others are starting to wind down as things slow down. But no matter where you fall on that spectrum, one thing is certain: cybercriminals will be looking to cash in over the Christmas period. With a rise in online activity, remote work, and reduced IT staffing, this is a prime time for attackers to exploit vulnerabilities and target businesses of all sizes.

Staying vigilant during this time is crucial. By understanding the risks and implementing proactive measures, businesses can reduce the likelihood of falling victim to cyberattacks. In this article, we explore the key reasons why Christmas is a prime time for cybercrime and offer practical steps to mitigate the risks.

1. Increased Online Activity and Financial Transactions

During the holiday season, online shopping and financial transactions reach their peak, with businesses also engaging in more B2B eCommerce. This spike in activity gives cybercriminals more opportunities to exploit vulnerabilities, particularly in payment systems.

Key Risks:

• Unpatched payment gateways and software can be targeted by attackers.
• Phishing attacks disguised as payment or invoice emails may trick employees into giving away sensitive information.

Mitigation:

• Ensure your payment systems and software are fully up-to-date and comply with PCI-DSS standards.
• Train employees to recognise phishing attempts, especially those that mimic invoices or payment notifications, and use email filtering tools to block suspicious messages.

‍

2. Phishing and Social Engineering

Many cybercriminals take advantage of the festive spirit by launching phishing attacks that appear to be holiday promotions, charity requests, or shipping updates. While these scams often target consumers, they can also trick employees, putting sensitive company data at risk.

Key Risks:

• Employees may be lured into clicking on links or downloading attachments from what seems to be a business promotion or Christmas sale.

Mitigation:

• Regular phishing simulations and security awareness training can help employees spot and avoid falling victim to social engineering tactics.
• Implement Multi-Factor Authentication (MFA) to protect accounts, reducing the chances of a successful breach even if login details are compromised.

‍

3. Increased Use of Personal Devices

As more employees take time off or work remotely during the holiday season, the use of personal devices and insecure networks becomes more common. This introduces new vulnerabilities, especially if proper security protocols are not in place.

Key Risks:

• Employees using unsecured WiFi networks while working remotely can expose company data.
• Personal device sharing with family members may lead to accidental access to sensitive information.

Mitigation:

• Enforce a robust Bring Your Own Device (BYOD) policy that mandates security measures, such as antivirus software and encryption.
• Mandate that employees use Virtual Private Networks (VPNs) when accessing company systems remotely to ensure data is protected.

‍

4. Weakened IT Defences

Christmas often means reduced IT staffing, with key personnel on leave and limited resources available. This creates an ideal environment for cybercriminals, as potential breaches may go undetected or take longer to respond to.

Key Risks:

• Delayed detection of breaches due to less capacity and resources.
• Slower incident response times can give attackers more time to exploit vulnerabilities.

Mitigation:

• Consider 24/7 monitoring via a Managed Security Service Provider (MSSP) to ensure continuous coverage even when your internal team is unavailable.
• Ensure your incident response plans are updated and have clear protocols in place, including a designated team for handling urgent incidents.

‍

5. Targeting Businesses During Busy Periods

Retail, logistics, and finance sectors are particularly vulnerable during Christmas, as the holiday period is their busiest time. Cybercriminals often launch ransomware attacks during these high-pressure moments, believing businesses may be more willing to pay a ransom to avoid disrupting critical operations.

Key Risks:

• Ransomware attacks could halt operations during the busiest time of year, leading to significant financial losses.
• Supply chain vulnerabilities may be exploited, with cybercriminals targeting third-party providers and causing widespread disruption.

Mitigation:

• Regularly back up critical data and ensure backups are stored offsite, where they cannot be encrypted by ransomware.
• Conduct risk assessments of your supply chain, reviewing the cybersecurity measures of third-party vendors to identify any weak links.

‍

Best Practices for Securing Your Business This Christmas

As the run up to Christmas presents a unique set of challenges, here are some actionable steps to secure your IT environment and reduce the risk of cyberattacks:

• Enhance Cybersecurity Awareness Training: Educate employees about the increased risks during the festive season, focusing on phishing, social engineering, and safe device usage.
• Review Access Controls: Implement strict access control measures and limit employees' access to sensitive data during this period.
• Strengthen Endpoint Security: Ensure all devices, especially personal ones, meet company security standards and are equipped with the latest security updates.
• Conduct a Cyber Threat Assessment: Evaluate your business’s current defences and identify any potential vulnerabilities before the Christmas holiday rush.

‍

Protect Your Business with a Cyber Threat Assessment

Don’t wait until it's too late. Ensure your business is prepared for the increased cyber risks during the festive period with a comprehensive Cyber Threat Assessment.

Our experts at TIEVA have teamed up with global cybersecurity leaders, Palo Alto Networks, to help you identify vulnerabilities and provide actionable steps to strengthen your defences.

Click here to learn more and how you can schedule your assessment to secure your IT infrastructure this Christmas.