Marks & Spencer pauses online orders amid cyber-attack fallout, halting digital transactions as the retailer battles to contain the impact of a high-profile incident.
Marks & Spencer Pauses Online Orders Amid Cyber-Attack Fallout
The British retailer has halted all online orders through its website and apps as it continues to battle the fallout from a cyber-attack that began on Monday. The company apologised to shoppers for ‘this inconvenience’ and paused digital orders *’as part of our proactive management of a cyber incident’_.
Impact on Customers and Sales
Shoppers can continue to browse online and shop in physical stores using cash or card. However, customers who have already made an online order can collect it in stores once they receive notification but new orders cannot be placed. M&S said customers did not need to take any action, indicating that their details had not been accessed.
The forced stop in orders comes before a busy weekend period and expected heatwave that is likely to spur demand for clothing and kit for outdoor entertaining. Just over a third of M&S‘s clothing and homeware sales are made online, making the pause particularly inconvenient for customers.
Cybersecurity Experts Weigh In
Security experts warned shoppers to watch out for scammers capitalising on the high-profile incident. Nicholas Found, head of commercial content at Retail Economics, said: *’The cyber-attack on Marks & Spencer is a stark reminder that no retailer, no matter how established or digitally sophisticated, is immune from the escalating threat of cybercrime.’_
Cybercrime refers to criminal activities that involve a computer, network, or other digital device.
It encompasses a wide range of offenses, including hacking, identity theft, phishing, and online fraud.
According to the FBI, cybercrime costs the global economy over $6 trillion annually.
Cybercrime often involves sophisticated techniques and tools, making it challenging for law enforcement agencies to investigate and prosecute.
A Systemic Risk
While M&S bears the brunt of this particular attack, this is far from an isolated incident. Cyber-attacks are a systemic risk looming over the entire retail sector. The attack on M&S follows a number of similar incidents in recent years, including Transport for London, Royal Mail, and WH Smith.
Cybersecurity refers to the practice of protecting digital information from unauthorized access, use, disclosure, disruption, modification, or destruction.
This includes protecting against malware, viruses, phishing attacks, and other cyber threats.
According to a report by Cybersecurity Ventures, global cybersecurity spending is projected to reach $346 billion by 2024, up from $124 billion in 2018.
Effective cybersecurity measures include implementing firewalls, using encryption, conducting regular software updates, and educating users about safe online practices.
In September, Transport for London was forced to close down many online services after a cyber-attack. In 2023, Royal Mail was forced to ask customers to stop sending parcels and letters to overseas destinations after a cyber-attack caused ‘severe service disruption’ to international mail.
