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.
The European Central Bank will extend its quantitative easing programme for nine months beyond next March, but scale back the level of bond buying from €80bn to €60bn a month.
The agreement, after three years of debate, raise questions on future investment demand, but Fitch Ratings doesnʼt anticipate major market disruption.
The European Commission fined Credit Agricole, HSBC and JPMorgan Chase a total of €485m for manipulating the price of the financial benchmark.
Issuers should seek more engagement with investors, explain better how they generate value, and work with investors on a Swiss code of accountable governance, suggests a white paper.