UK’s Talk Talk faces costs of up to $53m from cyber attack

Telco licks wounds, muddles on, after unauthorised access of 157,000 customers’ data

Tags: Cyber crimeTalk Talk (www.talktalkgroup.com)United Kingdom
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UK’s Talk Talk faces costs of up to $53m from cyber attack
By  Stephen McBride Published  November 11, 2015

UK telco Talk Talk could see one-off costs, arising from the recent cyber-attack on the company, reach as much as GBP35m ($53m), according to a report from the Financial Times.

Costs are thought to include free upgrades for customers affected by the attack, which resulted in a data leak of some financial information.

The BBC quoted Talk Talk CEO Dido Harding as reassuring investors that the company was "well positioned to deliver strong and sustainable long-term growth".

"The estimated one-off costs are between £30m and £35m;  that's covering the response to the incident, the incremental calls into our call centres, obviously the additional IT and technology costs, and then the fact that over the last three weeks until yesterday our online sales sites have been down, so there will be lost revenue as a result," Harding said.

The attack on Talk Talk started on 21 October, when a DDoS strike served as a smokescreen for the theft of confidential data from around 157,000 customers, including more than 15,600 bank account numbers and sort codes. Four people have since been arrested in connection with the incident.

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