Cyberattacks Hit High-Profile Retailers – Is Your Business Prepared?

Recently, big names like M&S and Harrods have made headlines. Not for the usual reasons, but because of a major cyberattack.

The attack hit multiple retailers across the UK. Reports suggest customer data and internal systems were both affected, with some services going offline while others slowed down. It caused real disruption and raised even bigger questions about cyber security in general.

There’s a common belief that these things only happen to large companies, but actually, it’s the smaller ones that often face more risk. Their lack of resources means less security against cybercriminals. They also have less room to recover if something goes wrong.

In this blog, we’ll break down key sectors surrounding the cyberattack. By the end, you should have a clearer picture of whether your business is prepared or if there’s more that needs to be done.

1. Data Protection

The cyberattack highlighted a glaring weakness – data protection. Sensitive data was targeted, including the NTDS.dit file from Windows domains. This file holds important user credentials and Active Directory data. If compromised, it can lead to serious consequences.

This is a prime example of how valuable data can be exploited if not protected with robust measures. Hackers gain access to internal systems, and in some cases, they can impersonate employees or customers.

When sensitive data is exposed, it can hurt your business both financially and sentimentally. Customers lose trust and confidence. To keep your data safe, you need strong security.

Think of data encryption as your first line of defence. Afterwards, implement multi-factor authentication to prevent hackers from slipping through the cracks. You can also consider training your employees on the topic for added security.

2. Operational Continuity

When systems go down, even for a short while, the effects spread fast. The recent cyberattack caused delays in transactions, customer service issues, and in some cases, store closures.

This is a major inconvenience for your customers, and it also costs you revenue. If your operations rely heavily on digital systems, any kind of breach causes downtime.

Payments, communication, and inventory tracking; all of it gets hit. In situations like these, the absence of a clear backup plan can make recovery harder. It’s essential to have a business continuity plan in place to ensure smooth operation.

As a business owner, you may have been more focused on other day-to-day operations and might not have had the time to set these up. However, this attack is a stark reminder as to why you should consider these things.

3. Third Party Risk

Cyber security doesn’t start or stop at your doorstep. In many cases, the entry point isn’t internal. It’s a third-party vendor. The recent cyberattacks on UK retailers have raised concerns about shared technology vendors being potential breach sources.

Retailers work with multiple vendors daily. Payment processors, delivery firms, and software providers all hold some access over their systems. If one link fails, the chain breaks. Essentially, if a third party is connected to your systems, their risk becomes yours.

In such cases, it helps to review third-party access often. Limit what external partners can see or use. Revoke access when it’s no longer needed. Also, make sure every vendor follows basic security practices.

It is now more important than ever to recognise that vendor security is part of your responsibility too. This doesn’t have to mean adding friction to everyday operations, but you might need better visibility into who’s accessing what.

4. Endpoint Vulnerabilities

One key lesson from the recent cyberattack is how endpoints can be prime targets for hackers. Staff laptops, POS systems, and handheld devices are often scattered across multiple locations in large retail environments. They’re updated at irregular intervals and can be potential weak spots in your cybersecurity.

If even one device is compromised, it can serve as a gateway into wider systems. This is especially true when endpoint security isn’t monitored properly. You might not notice it until it’s too late.

Regularly checking which devices are connected to your systems, making sure all your devices are up-to-date, and watching for unusual activity are good starting points.

You just need to be consistent in your approach to your endpoints. With remote access being so common in working environments, the need for proper endpoint management is at an all-time high.

Contact Redpalm to Protect Your Business From Cyberattacks

Cyberattacks will always keep evolving. The recent events show that SMEs and big businesses are both vulnerable to cyber threats. It showed how quickly things can spiral without robust security measures.

Now that you’ve seen how these attacks unfold and the impact they can have on businesses, you might be wondering where your own security gaps are. That’s where professional IT support can help greatly.

Redpalm is a managed service provider (MSP) and a trusted cyber security partner. We equip your business with advanced IT infrastructure to swiftly identify and neutralise any security risks.

Our wide range of services includes IT audits and health checks, technology procurement, vulnerability assessments, endpoint management, and more.

To learn more about our managed IT services, click here or contact us to schedule an appointment today.