Marks & Spencer Hit By Cyber Attack! Leaked Customer Data

JAKARTA - British retailer Marks and Spencer (M&S) revealed on Tuesday May 13, that some of the customer's personal information had been taken in cyberattacks that had disrupted their online operations for more than three weeks.

M&S, which is one of the big names in the British business world, has stopped receiving online orders since April 25. In fact, its share price has fallen by 15% since the Easter weekend, when orders-related issues first emerged.

M&S, which has 1,000 stores still operating, is reportedly a victim of a ransomware attack, in which criminals infiltrate the company's computer system, encrypt data, and ask for payment before giving controls back.

In its official statement, M&S stated that some of the customer details had been taken due to the incident, which they refer to as "very sophisticated attack properties". However, the company insists that the stolen data does not include details of the payment or the card that can be used, as the information is not stored in their system, and does not include the account password. M&S also added that no evidence of such data has been shared.

The company also notified customers that no action needed to be taken. They reported that currently, they are working to restore their operations back to normal. M&S stated that they had taken steps to protect their system, while working with cybersecurity experts, law enforcement, and government agencies.

M&S has not disclosed the financial impact it faces, which is increasing over time, as the company lost sales of new products as many regions in the UK enjoyed warm temperatures in May. The company generates about a third of its clothing and furniture sales online.

Analysts from Deutsche Bank previously estimated that the impact on the company's profit would be at least 30 million (IDR 660.4 billion), with losses continuing at around 15 million (IDR 330.2 billion) per week. They added that cyber insurance is likely to cover most of this impact, although the insurance coverage is usually limited in duration.