Counting the cost of the TalkTalk breach

Following the TalkTalk breach, ITST said the company was paddling up shit creek without a canoe; the water’s still brown…

Our updated summing up of the incident at the time stated “TalkTalk and Baroness Harding have given the appearance of an organisation and CEO scampering around in blind panic, issuing statements and giving interviews without actually knowing the facts of the matter, and creating far more fear, uncertainty and doubt amongst customers than it looks like was actually necessary.” TalkTalk customers, it would appear, tended to agree. Hardly surprising when 157,000 of them were impacted directly by the breach and around one in ten had bank account numbers and sort codes accessed. We now know that the telecoms outfit were stuffed with some £42 million in costs associated with the breach, and it has also been revealed that pre-tax profits fell from £32 million down to £14 million year on year as a result. TalkTalk CEO Dido Harding has said the company takes security incredibly seriously and has “brought forward spending on security.” To which we here at IT Security Thing have already responded “What, by £18m?”

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