Dixons Carphone data breach – what’s happened to the share price and could you be affected?

NEARLY ten million customers’ cards have been affected by a data breach at consumer electronics retailer, Dixons Carphone.

The company has apologised and said there is currently no evidence of fraud.

Dixons Carphone saw its share price drop 5.5 per cent after it made the announcement

What happened in the Dixons Carphone data breach?

Dixons Carphone has said there was a major data breach which involved unauthorised access to 5.9million customers’ cards and 1.2million personal records.

The retail chain apologised and said it had launched an investigation into an attempted hack in a processing system at Currys PC World and Dixons Travel, but added there was, so far, no evidence of fraud as a result of the incident.

In a second breach, personal data such as name, address or email addresses, had been accessed.

Dixons again said there was no evidence fraud had taken place as a result of the action.

Dixons Carphone says it found unauthorised access to some data

When did the data breach happen?

The data breach was discovered this week when the company was carrying out a review of its systems and data.

The exact date of the breach is not known but it occurred within the last year and before May 25 when the European General Date Protection regulation (GDPR) came into effect.

It is thought 10million customers were affected by the data breach.

On July 31, the electronics retailer apologised to its customers.

The company’s new CEO Alex Baldock (not pictured) issued an apology and admitted the firm had failed its customers

What did the company’s chief executive say?

The new chief executive Alex Baldock has issued an apology and admitted the firm had failed its customers.

Baldock said: “We are extremely disappointed and sorry for any upset this may cause.

“The protection of our data has to be at the heart of our business, and we’ve fallen short here.

“We’ve taken action to close off this unauthorised access and though we have currently no evidence of fraud as a result of these incidents, we are taking this extremely seriously.”

He added the company had hired cyber security experts to handle the matter and had added extra security measures.

How has the data breach affected the company’s share price?

Dixons Carphone shares fell 5.5 per cent after the data breach was announced on June 13, as the company faces the likelihood of being fined by the Information Commissioner’s Office (ICO).

Just before 9am on June 13 Dixons Carphone share price was down 6.57p at 191.18p.

By August 1, it had slumped to 174.50, down 1.36 per cent from the previous day’s 177.25.

On May 25 shares were valued at 233.40p but slumped after the company issued a profits warning and were trading on May 30 at just 181p.

They have since clawed back some lost ground.

The company is currently struggling in harsh trading conditions for high street retailers.

In May it announced it would close 92 Carphone Warehouse stores this year.

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