Harrods has become the most popular retailer for the latest victims of cyberattacks after similar incidents in Marks & Spencer (M&S) and the co-op. Luxury Leably Store was forced to restrict Internet access at its location Thursday, a precaution after trying unauthorized access to some of its systems.
Harrods said in a statement that its experienced IT security team quickly took action to protect its systems, creating temporary internet restrictions on its website. Nevertheless, all stores include the Knightsbridge flagship store, H Beauty Outlets and Airport Branches-Remain Open, and the site continues to function properly. Retailers assure customers that they do not need to take any action and do not believe that any customer data has been compromised. Updates will be provided as needed.
This incident happened with M&S being continuously interrupted, with ransomware attacks forcing online orders to stop for more than a week.
Retailers continue to face operational challenges, including contactless payments in stores and stock shortages.
The cyberattack has cut M&S’s stock market value by more than £500 million in discounts, reflecting investors’ concerns about long-term impact on business.
The cyber attack on M&S has had a significant financial impact since the announcement of the violation on April 22, with its share price nearly 9%.
Similarly, the cooperative took steps to protect its systems after it closed a portion of its IT infrastructure after discovering an attempted violation. Although some backend and call center services are affected, all co-ops and funeral homes are open and traded as usual. Precautions for staff to keep cameras in online meetings are recommended.
Cybersecurity experts point out that the purpose of ransomware group is to maximize the pressure on companies to pay ransoms, aiming at critical systems such as online ordering and payment processing.
Recent attacks on major UK retailers highlight the growing threat posed by cybercriminals to the retail industry.
