Better safe than sorry
Recent cyber-attacks at M & S and Co-op serve as a stark reminder that a security breach could happen to any business.
It was a SIM card which cost £ 300m. The recent Marks & Spencer cyberattack, which led to months of widespread disruption and that eye-watering sum, came about through a poor security decision.
“ The M & S security breach was achieved through social engineering, hackers phishing to manipulate a member of staff, then impersonating that user to access internal IT systems,” says James Hay, of Odyssey
“ M & S like so many businesses did some of the right things, like using multi-factor authentication. However, they used SMS to authenticate rather than an authenticator app – so the hackers performed a relatively simple SIM swap to gain access,”
78 | Tees Business