Marks & Spencers Cyber Incident
A TechTV Live special on the Marks & Spencers Cyber Incident. Presenters Bill Mew and Pete Warren welcome a panel of experts to discuss what has happened, including:
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Graeme Stewart, Head of Public Sector, at Checkpoint
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Ross Brewer, Vice President and Managing Director EMEA, T Graylog
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Prof Vish Maheshwari, Professor of Marketing at the University of Salford
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Dion Rooney, VP Industry Team/Retail Solutions, Rimini Street
They highlight the main issues:
1) The price of the M&S hack – For the past two weeks M&S has struggled to deal with a ransomware attack but what’s the real cost to the brand?
2) Need to take cybersecurity seriously – M&S has been hit by a ransomware attack that has brought the retail group to its knees and it has emerged that M&S took cyber security so casually it had no plan to deal with a cyber incident.
3) Brand damage greater than outage – A ransomware attack that has locked up M&S’ customer data and crippled the store group’s online operation is estimated to be costing them £43m a week by the Bank of America but is the attack costing the brand more than that? We examine the damage the attack has done to its reputation.
4) Trusted brands safeguard data – As the M&S attack shows in an online world cyber preparedness now says more about how much you care about your customers vital statistics than any amount of brand marketing.
