Insurance
Home›Insurance›Industry & Deals›H&M probes possible cyberattack after linked ASOS brea…
H&M probes possible cyberattack after linked ASOS breach claims
H&M said it found no indication its data environment was compromised, as its shares fell about 1.4% in Stockholm trading on Monday, October 12.
Insurance Business reports that H&M is investigating claims of a possible cyberattack after allegations that hackers tied to a recent breach at British fashion retailer ASOS also targeted the Swedish retailer.
The outlet says H&M told investors it found no indication its data environment had been compromised, while noting that the broader episode raises concerns about how compromised credentials and third party platforms can expose businesses to cyber losses.
Insurance Business links the warning to what occurred at ASOS, where attackers obtained employee login credentials through social engineering and used them to access customer information stored on third party platforms.
The report also frames the incidents as a stress test for cyber insurers, saying attackers can reach valuable corporate data through relatively narrow entry points and create privacy, extortion, and reputational exposures without necessarily disrupting a firm's core systems.