Marks & Spencer (M&S) experienced a damaging cyber attack that disrupted its online shopping services. The company has issued updates to customers and warned the public to be vigilant against scam emails that have proliferated following the incident. M&S's CEO stated that the online business is expected to be fully operational by the end of July, with the worst impacts of the cyber attack anticipated to be resolved by August. As part of its recovery efforts, M&S is investing £300 million in upgrading its stores and has accelerated its store rotation program. Despite the cyber attack, M&S reported food sales growth and profits reaching a 15-year high prior to the disruption. The company views the cyber attack as an opportunity to reset its operations and is pursuing growth through family-sized product offerings. Separately, warnings have been issued by the Department for Work and Pensions (DWP) and other authorities about various scams, including council tax scams and bank-related fraud targeting tourists. Holidaymakers have also been cautioned against the costly mistake of traveling abroad without sufficient cash, as over one-third of travelers have encountered difficulties needing physical money. Financial experts recommend using neobanks or banking options with no fees to minimize banking charges while abroad.
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‘Costly mistake’ that some holidaymakers are making when travelling abroad https://t.co/LRmdBWcXy9 https://t.co/5u3RPefBoJ