The hackers behind a cyber-attack on Marks & Spencer (M&S) managed to gain entry through a third party who had access to its systems, the BBC understands. The cyber-attack, which happened in April, has caused millions of pounds of lost sales for M&S and left it struggling to get services back to normal, with online orders paused for more than three weeks. The supermarket declined to comment on the nature of the breach or these new details, saying "availability is now in a much more normal place with stores well stocked this weekend". DragonForce - the name the criminals are using - previously told the BBC it was behind the attack and was alsoresponsible for hacking the Co-opandan attempted hack on Harrods. M&S will announce its annual results on Wednesday, but the focus will all be on the devastating attack and its financial impact. Bank of America analysts believe M&S has lost more than £40m of sales every week since the incident began over the Easter bank holiday weekend. It announced on 25 April it had stopped taking online orders. Some stores were left with empty food shelves after the firm had to take some food-related systems offline. On a precautionary basis, M&S decided to close down many of its IT operations following the attack, effectively locking itself out its core systems as it grappled to deal with the attack. The biggest challenge is getting its online system fully operational again, which accounts for around a third of its clothing and homeware sales. M&S told the BBC: "Our stores have remained open and availability is now in a much more normal place with stores well stocked this weekend." The retailer said on 13 May thatsome personal customer data was stolen in the cyber attack, which could include names, date of birth, phone numbers, home addresses, email addresses, household information, and online order histories. It added that any card information taken would not be useable as it does not hold full card payment details on its systems. The Co-op, which the hackers previously told the BBC they had targeted, said on 30 April that it hadshut down parts of its IT systems in response to the attack.The hack caused payment problems and widespread shortages of goods in shops, and customer and staff data was compromised. It said on Wednesday that customers should seestocks return to more normal levels on Saturday and Sunday.
M&S hackers believed to have gained access through third party
TruthLens AI Suggested Headline:
"Cyber-Attack on Marks & Spencer Linked to Third-Party Access"
Bbc News
7.0
TruthLens AI Summary
The recent cyber-attack on Marks & Spencer (M&S) has been traced back to hackers who accessed the company's systems through a third-party vendor. This incident, which occurred in April, has had significant repercussions for M&S, resulting in millions of pounds in lost sales and a major disruption to its services. The online ordering system was halted for over three weeks, leaving many customers frustrated and stores struggling to maintain adequate stock levels. While M&S has not provided specific details about the breach, the company has indicated that its operations are gradually returning to normal. The attack was attributed to a group known as DragonForce, who also claimed responsibility for previous hacks on other retailers, including the Co-op and an attempted breach of Harrods. Analysts from Bank of America estimate that M&S has experienced losses exceeding £40 million per week since the attack began during the Easter bank holiday weekend.
In response to the cyber-attack, M&S took precautionary measures by shutting down several IT operations, which inadvertently locked the company out of its core systems. This decision was made to mitigate the damage caused by the attack, but it has posed challenges in restoring the online system, which is crucial for a significant portion of M&S's clothing and homeware sales. The company confirmed that some personal customer data was compromised during the breach, including names, contact information, and online order histories, although it reassured customers that full card payment details were not stored in their systems. As M&S prepares to release its annual results, the focus remains on the ongoing impact of the cyber-attack and the company's efforts to regain normalcy in its operations. Meanwhile, the Co-op has also reported disruptions to its services and has taken steps to secure its IT systems following the incident.
TruthLens AI Analysis
The cyber-attack on Marks & Spencer (M&S) has raised significant concerns regarding data security and the operational resilience of large retailers. The breach, attributed to hackers known as DragonForce, is believed to have exploited vulnerabilities through third-party access, highlighting systemic risks associated with supply chains and partnerships.
Intent Behind the Publication
This report likely aims to inform the public about the security challenges faced by prominent retailers, thereby increasing awareness regarding cyber threats. It serves to underline the importance of cybersecurity measures, particularly in industries handling sensitive consumer information. By detailing the financial impact and operational disruptions, the article may also encourage M&S and similar retailers to prioritize investments in stronger security protocols.
Public Perception and Concerns
The narrative constructed around this incident may evoke a sense of vulnerability among consumers regarding their personal data safety. With revelations that customer data was compromised, there could be an increase in public demand for transparency and accountability from corporations regarding their cybersecurity practices. This incident could potentially foster distrust in M&S, impacting customer loyalty and brand reputation.
Possible Concealments
While the article provides considerable details about the attack and its repercussions, it does not delve deeply into M&S's pre-existing cybersecurity measures or the extent of the vulnerabilities exploited. This omission may suggest an attempt to redirect focus away from potential negligence in safeguarding sensitive information.
Manipulation Assessment
The manipulation level of this news piece appears moderate. It effectively conveys the gravity of the situation but could be seen as steering public sentiment towards fear and caution without offering a balanced view of M&S's overall security landscape or the steps being taken post-incident. The language used emphasizes the attack's devastating impact, which could amplify anxiety regarding cybersecurity in retail.
Credibility of the Information
The article presents credible information sourced from reputable media outlets like the BBC. The financial implications cited by analysts from Bank of America also lend credibility to the narrative, although the totality of the facts and figures presented should be cross-referenced with M&S’s official communications for a complete understanding.
Societal Impact and Economic Ramifications
The fallout from this attack could lead to broader discussions around cybersecurity regulations, potentially influencing policy changes in the retail sector. Economically, the reported loss of sales could affect M&S's stock performance, influencing investor sentiment and market positioning.
Target Audience and Community Response
This report primarily targets consumers, businesses, and cybersecurity professionals. It appeals to those concerned about data privacy and the operational integrity of retailers they rely on. The implications of the attack may resonate particularly with tech-savvy communities that are more aware of cybersecurity issues.
Market Influence
In terms of market impact, M&S's stock could be negatively affected in the short term, and this incident may prompt investors to scrutinize other retailers' cybersecurity measures. The incident may influence the stock prices of companies within the retail sector as investors reassess risk factors.
Geopolitical Context and Relevance
From a geopolitical perspective, the incident reflects ongoing concerns about cyber threats, which are increasingly viewed as a national security issue. It aligns with broader discussions about international cyber warfare and the vulnerabilities faced by critical infrastructure.
AI Utilization in Reporting
There is a possibility that AI tools were employed in drafting or editing this article, particularly in structuring the content and ensuring clarity. Such technologies could have been used to analyze previous similar incidents or to compile statistical data on market impacts.
The analysis of this article indicates a moderate level of manipulation, primarily through its framing of the situation to emphasize fear and urgency. The potential for broader implications on consumer trust, market behavior, and regulatory discussions is significant, making the incident a focal point for various stakeholder groups.