M&S, Co-op cyberattackers duped IT help desks into resetting passwords, says report

Cyberattack Details: Marks & Spencer and Co-op Group were targeted by hackers impersonating employees to gain access to their networks, prompting the National Cyber Security Centre to advise companies to review help desk processes to prevent such breaches.

Impact on Business: M&S has experienced significant disruptions, including a 12% drop in shares and halted online orders, with analysts estimating a profit loss of around £30 million due to the cyber incident, which could take weeks to resolve.