Market gives Dixons benefit of the doubt following massive cyber-attack
Dixons Carphone had flagged the potential for a cyber-attack in its annual report
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shares in Dixons Carphone failed to react yesterday despite the company behind Carphone Warehouse admitting it had been the target of a massive cyber-attack last week.
Investors decided to give the company the benefit of the doubt over the intrusion, which compromised 2.4 million customers’ details, including 90,000 credit cards, as the shares closed up 1.7p at 457.7. However, Wednesday’s hack, which was not revealed until Saturday, could now face an investigation by the UK’s data protection watchdog, with the Information Commissioner’s Office making enquiries into the data breach which also affected TalkTalk and iD users.
The Financial Conduct Authority is also expected to take a look at the issue to see whether Dixons Carphone informed the market in a timely manner over price-sensitive information – although with the share price barely moving, a formal investigation is unlikely.
Dixons Carphone had flagged the potential for cyber-attacks in its annual report, pointing out that a key risk for the business would be a “major loss/breach of customer, colleague, or business sensitive data. Vulnerability to attack, malware, and associated cyber risks owing to under-investment in people, systems and safeguarding processes.”
Sources close to the company suggested that the reason for the muted reaction was that most investors were realistic and accepted the view that such data breaches were now a matter of course for businesses.
Carphone Warehouse said names, addresses, date of birth information and bank details of 2.4 million customers “may have been accessed” in the attack including customers who use OneStopPhoneShop.co.uk, e2save.com and Mobiles.co.uk.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments