Companies with Robust Security Postures Will Win Customers and Profits
By Katherine Teitler
May 13, 2016
TalkTalk, a UK based telecommunications provider has at once publicly disclosed that the firm saw a 56% decline in last year’s profits and total revenues increased by 2.4% in the 12 months preceding March 31, 2016. The decline in profits is undoubtedly due to the aftereffects of a cyberattack in which the names, phone numbers, and email addresses of a reported 157,000 customers were lost. In addition, during the same incident 21,000 bank account numbers were accessed. As a (justifiable) knee-jerk reaction, more than 100,000 subscribers flew the coop, switching service to providers like Sky, BT, and Virgin Media. Yet in its Q4 leading up to March 31st, the company experienced its lowest ever “churn,” meaning that customer turnover was nominal and retention relatively stable, the company’s chief executive said in a statement.