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The M&S cyber attack continues into its second week. As the company tells agency workers to stay at home and locks remote workers out of IT systems. Its come to light that the company knew of its cyber vulnerabilities a year before the attack (its a top 5 board risk).The M&S share price has taken a bit of a beating. The company’s share price has dropped over 6% since the day before the attack. A drop that’s wiped over £550 million of M&S market cap.The attack also comes at a time when M&S is working on a turn around program, to improve it high street performance. One expects the cyber budget will now increase, alongside its digitial spend, as well as the companies focus on cyber, data, cloud and AI governance, if the company wishes to adopt AI as a tool for performance improvement and transformation.Unfortunately the lesson one learns with cyber is while companies may think it will never happen to me, there’s a high probability it will. A probability that increases exponentially when companies progress through digital transformation programs. Brian D. McCarthy, cyber is a top 5 board risk for a good reason.It’s a shame that the UK government has not, as yet, published a defensive cyber strategy for UK PLC. As its counterparts in the US and EU have moved ahead with cyber regulation. Although I hear cyber essentials will fix everything.@Thaddeus Dziekanowski Faisal Khan Bryan FossVeritas GRC Marks and Spencer#cybersecurity #cyberriskmanagement #cyberattackhttps://lnkd.in/dABeeE_d
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