Britain's Cyber Monitoring Centre (CMC) predicts the recent cyberattacks targeting major retail companies like Marks & Spencer and Harrods could cost up to £440 million. The CMC classified these breaches as a category 2 systemic event due to their significant yet confined impact. Harrods managed to maintain some operations during the attack, resulting in less overall damage. The CMC emphasized the distinction between narrow and deep attacks versus shallow and broad ones, stating that the current situation had severe implications primarily for two main companies and their partners, but not the wider economy.
The impact from this event is 'narrow and deep,' having significant implications for two companies, and knock-on effects for suppliers, partners, and service providers.
We are yet to see a deep and broad category 4 or category 5 event impact the UK. Had there been further widespread disruption in the sector, the categorization could have been higher.
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