TalkTalk Cyber Attack Highlights the Risks to SMEs By Adam King

February 18, 2016
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TalkTalk Cyber Attack Highlights the Risks to SMEs

By Adam King Security Consultant at PGI Cyber

I’m sure we’ve all heard of the cyber-attack against TalkTalk back in October. It was big news. Hackers were able to steal sensitive customer data from the phone and broadband provider, including names, addresses, telephone numbers, account information and banking details. No doubt the company suffered massive fines for the lack of security around sensitive and personal data. The problem is, there are much greater costs incurred…

Overall, TalkTalk have estimated a total cost of £60m as a result of the cyber-attack. They have estimated a loss of 100,000 customers, and severe reputational damage will likely decrease the number of new customers signing the dotted line until this mess has been forgotten.

It’s lucky that TalkTalk are such a large organisation. Smaller companies often find a cyber-attack so crippling that they have to close their doors. That’s it. Defeated. Some 13 year old kid can wipe out a decade of hard work to build a company with a few clicks of a mouse and a bit of pitter-patter on the keyboard. You might think I’m oversimplifying the whole ‘hacking’ thing, but in reality, I’m not. It can be very, very easy to exploit a vulnerability, especially if it’s a well-documented one.

Small businesses often find it very difficult to justify the costs involved....

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