Marks and Spencer Cyber Attack

Another day another hack it seems… High Street giant Marks & Spencer (M&S) has today confirmed that personal customer data was compromised in the recent cyber attack that has crippled its online operations for the past three weeks. The retailer revealed that the stolen information could include customers' names, dates of birth, telephone numbers, home addresses, household information, email addresses, and online order histories.

While the company assured customers that usable payment or card details and account passwords were not compromised, the theft of contact information and order history still poses a risk of identity fraud. M&S Chief Executive Stuart Machin stated in a letter to customers that "unfortunately, some personal customer information has been taken," but added that "Importantly, there is no evidence that the information has been shared."

However, security experts warn that the hackers responsible could still share or sell the stolen data as part of their attempts to extort M&S. The retailer has not disclosed the number of customers affected but confirmed that all website users have been informed via email. The incident has also been reported to the relevant authorities, and M&S is working with cyber security specialists to monitor for any potential misuse of the stolen data.

The ongoing disruption is reportedly costing M&S a significant £43 million per week in lost sales, according to analysis from Bank of America Global Research. Online orders on the M&S website and app have been suspended since April 25th, and the company has yet to provide a timeline for when normal service will resume.

In response to the data breach, M&S will be prompting customers to reset their account passwords "for extra peace of mind." The retailer has also urged customers to be vigilant against potential phishing attempts, warning that they "might receive emails, calls or texts claiming to be from M&S when they are not." M&S emphasized that they will never contact customers asking for personal account information like usernames or passwords.

The impact of the cyber attack is also being felt by investors, with shares in M&S reportedly down by around 12% over the past month. As the retailer continues to work on restoring its online operations and managing the fallout from the data theft, customers are advised to remain vigilant and follow the guidance provided by M&S to protect themselves from potential scams.

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