Cyber attacks ‘tipping point’ warning issued after Harrods and M&S targeted
Why cyber attacks have surged in prominence in 2025
- Cyber attacks surged in 2025, inflicting significant financial damage and exposing widespread vulnerabilities across major British businesses.
- High-profile targets included Jaguar Land Rover, Marks & Spencer, and Harrods, leading to production halts, substantial revenue losses, and customer data theft.
- Andrew Bailey, Governor of the Bank of England, highlighted cyber attacks as a major threat to UK financial stability, with NCC Group reporting a record surge in global ransomware incidents.
- Jaguar Land Rover's attack alone cost the UK an estimated £1.9 billion and contributed to the economy's contraction, while M&S faced a £324 million loss and data compromise.
- Experts warn of intensifying threats from AI and supply chain targeting, prompting the UK Government to develop new legislation to enhance cyber resilience and regulate ransom payments.