Royal Mail spent £10m on cyber measures after LockBit attack

The LockBit ransomware attack on Royal Mail’s parent company, International Distributions Services plc (IDS), has cost £10m ($13.4m) in system recovery expenses over the past six months. The attack targeted the IT systems at the Heathrow distribution centre, resulting in widespread business and consumer disruptions. Following the incident, which led to a £66m ransom demand, IDS boosted its cybersecurity spending, although no details were provided. The incident led to a YoY fall in international parcel volumes and revenue.