Marks & Spencer Expects Ransomware Attack to Cost $400 Million

Keypoints

• Marks & Spencer has experienced significant financial and operational impacts from the cyberattack.
• The incident caused online shopping disruptions and increased costs due to manual processes and stock management.
• The ransomware group DragonForce claimed responsibility for targeting M&S, Co-op, and Harrods.
• Customer data, including personal and payment information, was stolen during the breach.
• The attack involved social engineering tactics against a third-party contractor, likely Tata Consulting Services.