Chairman Archie Norman described the recent ransomware attack on Marks & Spencer as an 'out-of-body experience.' He emphasized the need for open discussions among cyber attack victims. Norman believes that while government regulation cannot ensure security, it should facilitate sharing learnings from security incidents at the board level. He proposed mandatory reporting of significant cyber attacks to improve overall intelligence, noting many incidents often go unreported. M&S aims to utilize its experience to enlighten government and businesses, having already received invitations to share insights with other boards.
Marks & Spencer chairman Archie Norman described the recent ransomware attack on the retailer's systems as akin to an 'out-of-body experience' and called for open discussions among cyber attack victims.
Norman advocated for mandatory reporting of significant cyber attacks to enhance knowledge and intelligence around such incidents, as many go unreported.
He emphasized that while government cannot regulate security completely, it plays a role in ensuring that learnings from cyber incidents are shared at the board level.
Norman expressed M&S's willingness to share their experiences with other companies to aid them in understanding and combating cyber threats.
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