TCS provides update on Marks and Spencer hacking that will cost British retailer over $400 million
Tata Consultancy Services (TCS) has stated that none of its "systems or users were compromised" in the cyberattack that led to the theft of customer data at its client, British retailer Marks & Spencer (M&S).
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This marks the first time that India's leading IT services company has commented on the incident.
As per news agency Reuters, independent director Keki Mistry confirmed at the company's annual shareholder meeting that none of its customers have been impacted.
"As no TCS systems or users were compromised, none of our other customers are impacted," Mistry said. He further added that "The purview of the investigation (of customer) does not include TCS."
TCS serves as one of M&S's technology service providers and reportedly secured a $1 billion contract in early 2023 to modernise the retailer's legacy technology across its supply chain and omni-channel sales, aiming to boost online sales.
Cyber attack on M&S to cost company $400 million
M&S disclosed the "highly sophisticated and targeted" cyberattack in April, estimating it would result in a loss of approximately 300 million pounds ($403 million) in operating profit.
Disruption to the retailer's online services is expected to continue until July.
Financial Times reported last month that TCS was internally investigating whether it served as the gateway for the cyberattack.
"In Fashion, Home & Beauty, online sales and trading profit have been heavily impacted by the necessary decision to pause online shopping, however stores have remained resilient," M&S noted in a statement, adding that it anticipates that "online disruption to continue throughout June and into July as we restart, then ramp up operations."
Reports suggested that the hackers behind the M&S cyberattack S may have gained access to the systems via third-party routes. DragonForce was reportedly behind the hacking.
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