Category Archives: Business

Talk Talk Cyber Attack: The Story Behind Encrypted Data Decoded

Talk Talk Cyber Attack: The Story Behind Encrypted Data Decoded

The people working with the famous Talk Talk website  have a bigger picture by advertising on the TV channel X Factor. They have reported a significant and sustained cyber-attack. This report made on the 21st of October has driven a “never-ending fear” into customers for having lost their bank details to a hacker.

Dido Hading, the Chief Executive of the Talk Talk group has come up and told the people that the attack was smaller than what his team expected and the bank account details and passwords could not be fully fetched by the hackers. Dido also told the press that the hackers have accessed 1.2 million email addresses, names and phone numbers, 21,000 unique bank account numbers and their relative sort codes. That being on one side, he also said that all the credit card details they got hold of were incomplete, with most of the numbers marked with an “xxx”.

What Do The Customers Say?

Though the official statement has been made and the company has tried to re-implant its trust, Talk Talk’s current 4 million customers and the old customers have been shooting questions about their financial security. In reaction, Talk Talk team is trying to reach out to their customers on one side and the police have been arresting techies. The first one to be behind bars was a 16-year-old boy from West London and the second one was a 15-year-old boy in Northern Ireland. However, the second one was immediately bailed. The police have been rummaging through the hacker’s records and investigating every one of them in connection with the Talk Talk Cyber Attack.

How Is The Website Response?

The customers have grown fearful about the cyber-attack and the website has been responsive and sensitive to their customers’ reactions. They have updated their website and have made it clear to their customers that the hackers had accessed over 28, 000 obscured credit and debit card details, but Talk Talk has ensured that the details were encrypted with the middle six digits removed.

As an added support, the famous UK’s broadband provider, that has more than 4 million customers also promised to write to them and let them know about which information has been accessed by the hackers. They had also confirmed that the hacked credit and debit card numbers had many missing details and most of them were encrypted with “X”. Hence there was no chance of decoding every card number.


Will People Still Believe In Talk Talk – The Question Remains Unanswered

With so much of chaos and mayhem taking place among the customers, the Chief Executive Dido Harding passed his comment over the Talk Talk Cyber Attack. She told the people, “We know that we need to work hard to earn back your trust and everyone here is committed to doing that.”

To save people and re-imbibe the sense of financial security in them, the MPs will also launch an inquiry into the attack, says reports.

What is P2PL?

Peer-to-peer lending (P2PL) involves lending or borrowing money without using the more traditional route through a bank. These are normally unsecured, personal loans. The aim of this practice is to provide lenders with a good return for the money they provide. For the lender, it is an investment. The borrower can achieve a lower rate of interest. This is all largely possible because such lending can be arranged on the internet using a finance company as an intermediary thereby reducing banking overheads. There are many respectable companies that can facilitate this. For investors P2PL offers a good return with less volatility and liquidity than some other investment types.
In essence, P2PL aims to connect those individuals with money to lend to those who wish to borrow. In addition, it enables some individuals to obtain loans for which they may not meet the bank’s criteria. This type of lending is not a minor activity involving a few wealthy individuals. It is now widely used e.g. student loans, real estate and pay-day loans are widespread forms of P2PL.
P2PL was first established in the UK in 2005. Since that time it has become increasingly used in the USA and elsewhere. It offers an effective investment and, not surprisingly, now attracts many large financial institutions.

Utilising your workforce

In terms of your small or medium enterprise (SME), the ability to save money on labour costs without sacrificing productivity can have a huge effect on both your main concern and your future as an organisation Consider the choice of options which would allow you to save money, obtaining the same amount of profit, without compromising on quality.

Keeping your workforce adaptable There is a movement towards zero hours contract in the UK which gives the business complete flexibility but do you get the best out of your employees? Advisers or consultants use can also help reduce the burden of overhead costs such as the full-time rate of pay and the office space, but again, what loyalty do you get.

Streamlining your office space Are you wasting your floor space and therefore are paying more than you need? In this online world, do you really require “high street” offices or could you work from a garden office or even a “basement”. Other options of course would be to consider subletting land to earn an income  until you can use it or put it to better use.