Shares in TalkTalk have suffered further losses as investors continue to react to last Thursday’s announcement by the UK telecoms company that it had suffered a cyber-attack.
The further retreat in the share price came despite TalkTalk insisting over the weekend that the security breach was less extensive than was originally estimated. However, the company conceded that customers’ bank account and sort code details could have been accessed.
The phone and broadband provider has also admitted that it does not know how much of the customer information was encrypted. The company has promised to contact all of its four million current customers and admitted that the details of an unknown number of former customers could also be vulnerable.
However, TalkTalk’s chief executive, Dido Harding, attempted to offer some reassurance. “The financial information [the hackers] have on its own is not enough for them to access your bank account,” she told Sky News. A bigger risk came from criminals who could pose as bank staff in calls to customers and phish for enough information to infiltrate their account.
“We can confirm that we do not store complete credit card details on the website; any credit card details that may have been accessed had a series of numbers hidden and therefore are not usable for financial transactions,” the company said.
The company added that as yet there is no evidence that customers’ bank accounts have been affected as a result of the attack, despite some claims that money has gone missing.
Most are ‘hugely optimistic’ that their business will succeed in the year ahead, according to Ricoh Europe.
A study of consumers across 20 countries found only three where more than half those surveyed trusted merchants’ ability to protect their data.
Companies have only a limited time to complete their preparations before the UK departs the EU, warns Marsh executive Mark Weil.
The bank and the International Financial Corporation are continuing the eight years old trade finance partnership with a further investment.