Latest news with #KekiMistry
Time of India
8 hours ago
- Business
- Time of India
India's TCS says none of its systems were compromised in M&S hack
Tata Consultancy Services said none of its "systems or users were compromised" as part of the cyberattack that led to the theft of customer data at retailer Marks and Spencer , its client of more than a decade. "As no TCS systems or users were compromised, none of our other customers are impacted" independent director Keki Mistry told its annual shareholder meeting. "The purview of the investigation (of customer) does not include TCS," Mistry added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Superior Selection: 20 Extravagant Cars on the Planet Undo This is the first time India's No 1 IT services company has publicly commented on the cyber hack. M&S did not immediately respond to a request for comment. TCS is one of the technology services providers for the British retailer. In early 2023, TCS reportedly won a $1 billion contract for modernising M&S' legacy technology with respect to its supply chain and omni-channel sales while increasing its online sales. Live Events The "highly sophisticated and targeted" cyberattack which M&S disclosed in April will cost about 300 million pounds ($403 million) in lost operating profit, and disruption to online services is likely until July. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Last month, Financial Times reported that TCS is internally investigating whether it was the gateway for a cyberattack. Mistry presided as the chairman at the company's annual shareholder meeting as Tata Group Chairman N Chandrasekaran skipped it due to "exigencies". The chairman's absence comes as the Group's airline Air India plane with 242 people on board crashed after take-off in Ahmedabad last week, killing all passengers except one.
Time of India
9 hours ago
- Business
- Time of India
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). Tired of too many ads? go ad free now 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.
Deccan Herald
9 hours ago
- Business
- Deccan Herald
None of our system or user compromised: TCS on M&S cyberattack
Tata Sons and Air India Chairperson N Chandrasekaran skipped Tata Consultancy Services' AGM amid the Air India crisis, stating 'exigencies'. Independent director Keki Mistry resided as the Chair of the meeting in his absence.
Mint
10 hours ago
- Business
- Mint
‘No systems or users were compromised': TCS clarifies as Marks & Spencer investigates cyber breach
India's largest IT company, Tata Consultancy Services' (TCS) independent director Keki Mistry, told the firm's shareholders that no TCS systems or users were compromised due to the cyberattack on one of its clients. 'As no TCS systems or users were compromised, none of our other customers are impacted,' said Keki Mistry, independent director of TCS, at the annual shareholder meeting, as reported by the news agency Reuters on Thursday, 19 June 2025. Marks && Spencer (M&S), one of TCS's decade-long clients, was a victim of a cyberattack, which raised concerns among shareholders about how much TCS was affected by it. 'The purview of the investigation (of Marks & Spencer) does not include TCS,' said Mistry, quoted in the news agency's report. According to a BBC report, a group of English-speaking hackers used the illicit service known as DragonForce to carry out their cyber attack on the fashion retail giant Marks & Spencer. Dragonforce operates as a cybercrime service for people to use in exchange for a fee, which gives people access to the malicious software to carry out cyberattacks and demand extortion, according to the report. In an email to the news portal, DragonForce claimed responsibility for the cyberattack and demanded payment from the company. The email was sent through the account of an employee working at TCS. The news portal's report also confirmed that Marks & Spencer's head, Stuart Machin, said that the hackers got in through 'social engineering' as they pretended to be someone trustworthy and tricked the employee into giving out passwords or login access. Machin said that the attack was carried out through a third party which had access to M&S systems, according to the report. This incident marked the first time TCS publicly responded to a cyberattack for a decade-long client, M&S. However, Marks & Spencer did not respond to the agency's queries on the development. LiveMint couldn't independently verify the report. In 2023, TCS reportedly bagged a $1 billion contract to modernise M&S's technology needs to foster its supply chain and omni-channel sales and increase its online sales. After the cyber attack, the IT firm is internally investigating the entry point of the cyber attack, as reported by the news portal The Financial Times. This incident also reportedly resulted is a loss of operating profit to the extent of nearly 300 million pounds ($403 million). The cyber attack also disrupted the company's online services, which can likely be revived by July 2025, according to the agency report.
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Business Standard
10 hours ago
- Business
- Business Standard
None of our systems compromised in M&S hack, other clients safe: TCS
Tata Consultancy Services said none of its "systems or users were compromised" as part of the cyberattack that led to the theft of customer data at retailer Marks and Spencer, its client of more than a decade. "As no TCS systems or users were compromised, none of our other customers are impacted" independent director Keki Mistry told its annual shareholder meeting. "The purview of the investigation (of customer) does not include TCS," Mistry added. This is the first time India's No 1 IT services company has publicly commented on the cyber hack. M&S did not immediately respond to a request for comment. TCS is one of the technology services providers for the British retailer. In early 2023, TCS reportedly won a $1 billion contract for modernising M&S' legacy technology with respect to its supply chain and omni-channel sales while increasing its online sales. The "highly sophisticated and targeted" cyberattack which M&S disclosed in April will cost about 300 million pounds ($403 million) in lost operating profit, and disruption to online services is likely until July. Last month, Financial Times reported that TCS is internally investigating whether it was the gateway for a cyberattack. Mistry presided as the chairman at the company's annual shareholder meeting as Tata Group Chairman N Chandrasekaran skipped it due to "exigencies". The chairman's absence comes as the Group's airline Air India plane with 242 people on board crashed after take-off in Ahmedabad last week, killing all passengers except one. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
