Advertisement

TalkTalk hit by a cyberattack

TalkTalk CEO, Dido Harding, insisted that the firm’s cybersecurity was “head and shoulders above” that of its competitors.

766-Harding-634
CEO Dido Harding: fighting for customers' trust

Personal data on four million customers, potentially including bank details, was stolen from UK telecoms group TalkTalk in an "significant and sustained" attack by hackers last week, the company said. TalkTalk CEO, Dido Harding, insisted that the firm's cybersecurity was "head and shoulders above" that of its competitors, but TalkTalk was unable to confirm how much of the information was encrypted in the first place. A 15-year-old teenager from Northern Ireland was arrested, and subsequently bailed, in connection with the attack.

What the commentators said

Now this latest security breach "could well leave an indelible stain" on the company's reputation, said Stephan Shakespeare in City AM. TalkTalk has already decided to pull its advertisements from the X-Factor to cut public exposure for a while, but this "shift in marketing will not erase consumers' fears". Yet it's not only TalkTalk that needs to learn hard lessons from this incident. Data breaches of this kind are increasingly common. They can continue to damage a company's brand "long after a hackerhas been caught and prosecuted".

Advertisement - Article continues below

As cybercrime is becoming increasingly common, firms need to reassess their security measures. "If you can't secure your customers' data, you will find it difficult to secure their trust."

Advertisement
Advertisement

Recommended

Visit/519858/how-long-can-the-good-times-roll
Economy

How long can the good times roll?

Despite all the doom and gloom that has dominated our headlines for most of 2019, Britain and most of the rest of the developing world is currently en…
19 Dec 2019
Visit/516758/beyond-the-brexit-talk-the-british-economy-isnt-doing-too-badly
Economy

Beyond the Brexit talk, the British economy isn’t doing too badly

The political Brexit pantomime aside, Britain is in pretty good shape. With near-record employment, strong wage growth and modest inflation, there is …
17 Oct 2019
Visit/economy/uk-economy/601429/mervyn-king-why-the-covid-pandemic-is-a-classic-example-of-radical
UK Economy

Mervyn King: why the Covid pandemic is a classic example of radical uncertainty

This week, Merryn talks to ex-governor of the Bank of England Merryn King about the pandemic and how to prepare for a future that is unknowable; the g…
2 Jun 2020
Visit/economy/uk-economy/601426/stealth-debt-jubilees-are-here-and-thats-a-good-thing
UK Economy

“Stealth” debt jubilees are here – and that’s a very good thing

We may not have had a full-scale debt jubilee, but many Covid relief measures quietly amount to “micro-jubilees”. That’s something to celebrate, says …
1 Jun 2020

Most Popular

Visit/economy/uk-economy/601427/covid-bounce-back-loans-and-inflation
UK Economy

What bounce back loans can tell us about how we’ll pay for all this

The government will guarantee emergency "bounce back loans" for small businesses hit by Covid-19. Inevitably, many businesses will default. And there'…
1 Jun 2020
Visit/investments/commodities/601433/commodities-possibly-the-biggest-opportunity-in-todays-markets
Commodities

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020
Visit/economy/global-economy/601420/james-ferguson-the-virus-the-lockdown-and-what-comes-next
Global Economy

The MoneyWeek Podcast: James Ferguson on the virus, the lockdown, and what comes next

Merryn talks to MoneyWeek regular James Ferguson of Macrostrategy Partnership about what's happened so far with the virus; whether the lockdown was th…
28 May 2020