Cyber Security Breach Cost Capita £20m
The importance of top-quality cyber security has been highlighted recently after it was revealed a recent online attack could cost Capita £20 million.
At the end of March, the NHS and Ministry of Defence outsourcer was hit by a ransomware attack. Consequently, 61,000 employees were locked out of their computers across several government organisations.
The group was reported by The Evening Standard at the time as saying: “Capita has taken extensive steps to recover and secure the customer, supplier and colleague data contained within the impacted server estate, and to remediate any issues arising from the incident.”
Although it revealed data was only taken from 0.1 per cent of its server estate, the cost of the incident is estimated to be as much as £20 million.
The organisation stated recovery and remediation costs, as well as investment in better cyber security, is likely to be between £15 million and £20 million.
Analysts at Peel Hunt went on to say Capita can “hopefully” move on from the incident, adding that the uncertainty of the event “has weighed heavily on the shares” since March.
Indeed, Capita shares have dropped by 0.4p to 33.9p.
The National Cyber Security Centre has also warned companies to be extra vigilant, as Russia is using Snake malware to retrieve private data from its opponents. Government networks, journalists and research centres are at particular risk, and have been advised to improve their security so they can detect the breach quickly and easily.
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