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TalkTalk shares fall again in wake of cyber-attack TalkTalk hack: MPs to hold inquiry into cyber-attack
(about 7 hours later)
TalkTalk shares have fallen sharply as investors continue to shun the firm in the wake of last week's cyber-attack. MPs are to launch an inquiry into the cyber-attack on TalkTalk that could have put customers' details at risk.
The telecoms company's shares were down 9% on Monday morning, and are now down by about 13% from Thursday, when news of the attack first emerged. Culture minister Ed Vaizey also told the House of Commons the government was not against compulsory encryption for firms holding customer data.
Over the weekend, the company said the cyber-attack was "smaller" than originally thought. Shares in the telecoms company fell more than 12% in Monday trading, extending its losses from last week, when news of the attack first emerged.
TalkTalk has said the cyber-attack was "smaller" than originally thought.
However, it acknowledged that customers' bank account and sort code details may have been accessed.However, it acknowledged that customers' bank account and sort code details may have been accessed.
TalkTalk is expected to make a further statement on the matter on Monday. Responding to an urgent question on the issue asked in the Commons, Mr Vaizey described the hack as "very serious". Any compensation for customers would be a matter for the Information Commissioner, he told MPs.
The inquiry into the TalkTalk hack and data protection will be launched by Jesse Norman, chair of the Culture, Media and Sport Select Committee, the Commons was told.
'Money missing'
The phone and broadband provider has said it does not know how much of the customer information was encrypted.The phone and broadband provider has said it does not know how much of the customer information was encrypted.
It said it would contact all its four million current customers and has said an unknown number of previous customers may also be at risk. It said it would contact all its four million current customers; it has said an unknown number of previous customers may also be at risk.
Some customers have also said money has gone missing from the their bank accounts.Some customers have also said money has gone missing from the their bank accounts.
But TalkTalk has said there is currently no evidence that customers' bank accounts have been affected as a result of the attack. But TalkTalk has said there is currently no evidence that customers' bank accounts have been affected as a result of last week's attack.
Analysis: Rory Cellan-Jones, BBC technology editorAnalysis: Rory Cellan-Jones, BBC technology editor
The company first indicated that the "sustained" attack was a DDoS, a distributed denial of service attack where a website is bombarded with waves of traffic.The company first indicated that the "sustained" attack was a DDoS, a distributed denial of service attack where a website is bombarded with waves of traffic.
That did not seem to explain the loss of data, and later TalkTalk indicated that there had also been what is known as an SQL injection.That did not seem to explain the loss of data, and later TalkTalk indicated that there had also been what is known as an SQL injection.
This is a technique where hackers gain access to a database by entering instructions in a web form. It is a well known type of attack and there are relatively simple ways of defending against it.This is a technique where hackers gain access to a database by entering instructions in a web form. It is a well known type of attack and there are relatively simple ways of defending against it.
Many security analysts were stunned by the idea that any major company could still be vulnerable to SQL injection.Many security analysts were stunned by the idea that any major company could still be vulnerable to SQL injection.
Questions for TalkTalkQuestions for TalkTalk
A number of customers have criticised the company's handling of the attack - saying they have received no contact.A number of customers have criticised the company's handling of the attack - saying they have received no contact.
Others criticised its refusal to let them cancel contracts for free.Others criticised its refusal to let them cancel contracts for free.
In a statement on Saturday, TalkTalk said the attack was on its website, where full card details are not held - not on its core system.In a statement on Saturday, TalkTalk said the attack was on its website, where full card details are not held - not on its core system.
Any credit card details accessed were incomplete - with many numbers appearing as an x - and "not usable" for financial transactions, it added.Any credit card details accessed were incomplete - with many numbers appearing as an x - and "not usable" for financial transactions, it added.
The Metropolitan Police is investigating the hack, as well as a ransom demand from a group purporting to be behind it.The Metropolitan Police is investigating the hack, as well as a ransom demand from a group purporting to be behind it.
No arrests have been made.No arrests have been made.
TalkTalk said there was a chance that some of the following customer data had been accessed:TalkTalk said there was a chance that some of the following customer data had been accessed:
What should you do if you think you're at risk?What should you do if you think you're at risk?
TalkTalk hack: What should I do?TalkTalk hack: What should I do?