Users receive a link to an e-card site FriendGreetings.com. If they click on the link, they are invited to install some computer code in order to view their e-card.
Running the program also unwittingly gives their permission to send a similar message to every one in their e-mail address book.
Such aggressive marketing tactics are not new and are not illegal. Similar campaigns are likely to be seen more in the run up to Christmas, say experts.
Net nasties
Security companies have received calls from users concerned that they have passed on a virus.
The e-mail is not a virus, but it can cause as much trouble said Graham Cluley, Senior Technical Consultant at anti-virus firm Sophos.
"A flood of unwanted e-mails can be as much of a problem as a genuine virus," he said.
"Companies should tell staff that running code from the internet is only allowed if permission has been given by their information technology department.
Users must also be prepared to read the small print in any agreement they sign up to.
"Too many people are blindly believing everything in their inbox when simple safe computing procedures can reduce the risk of spreading a whole range of internet nasties," said Mr Cluley.