TalkTalk hack could end up costing £35 million

The TalkTalk hack was the latest in a growing string of high-profile online leaks and attacks. Now it looks like the financial fallout come reach to £35 million in one-off costs.

Speaking to the BBC this morning, TalkTalk chief executive Dido Harding said the company is predicting a loss in revenue.

“The estimated one-off costs are between £30 million and £35 million – 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,” she said.talktalk_hack_ps35_million

Harding also said that the firm expects full-year results to be in line with market expectations, and that TalkTalk was “well positioned to deliver strong and sustainable long-term growth”.

To make reparations for the effects of the hack, all TalkTalk customers will be offered a free upgrade. Those financially affected by the hack will be able to leave the service without penalty.

As for the long-term impact of the attack on the business, Harding said it was “too early to tell”.

Next: How to keep yourself safe in the wake of the TalkTalk hack

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