Finance
Britain to warn companies cyber security must be 'absolute priority'
Published by Global Banking & Finance Review®
Posted on May 2, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 2, 2025
2 min readLast updated: January 24, 2026
The UK government stresses the importance of cyber security for businesses after recent attacks on major retailers, highlighting new legislation and ongoing threats.
LONDON (Reuters) -The British government will next week warn all UK companies to treat cyber security as an "absolute priority" in the wake of attacks on retailers Marks & Spencer, the Co-op Group and Harrods.
Cabinet office minister Pat McFadden on Friday led a briefing with national security officials and Richard Horne, the CEO of the National Cyber Security Centre, about support being provided to the affected retailers, his office said.
It also said he will use a speech at next week's CyberUK conference in Manchester to say the recent attacks are a "wake up call" for all businesses.
It said McFadden will highlight moves to “bolster our national defences” including new legislation - the Cyber Security Bill.
He will say: “In a world where the cybercriminals targeting us are relentless in their pursuit of profit - with attempts being made every hour of every day - companies must treat cyber security as an absolute priority."
The 141-year-old M&S, one of the best known names in British business, stopped taking clothing and home orders through its website and app on April 25 following problems with contactless pay and click and collect services over the Easter holiday weekend. It has not said when online orders will resume.
Technology specialist site BleepingComputer, citing multiple sources, said a ransomware attack that encrypted M&S's servers was believed to have been conducted by a hacking collective known as "Scattered Spider".
British companies, public bodies and institutions have been hit by a wave of cyberattacks in recent years, costing them tens of millions of pounds and often months of disruption.
(Reporting by James Davey; Editing by Kirsten Donovan)
The article discusses the UK government's emphasis on making cyber security a top priority for businesses following recent cyber attacks.
The government plans to introduce the Cyber Security Bill and highlight the issue at the CyberUK conference.
Major UK retailers like Marks & Spencer, the Co-op Group, and Harrods were targeted by cyber attacks.
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