Updated: Apr 13, 2020
Between the 21st of August and the 5th of September 2018, malicious and sophisticated hackers successfully got their hands on the names, addresses, credit card numbers, three-letter security code, and credit card expiry dates of British Airways’ customers. Over 380,000 transactions were intercepted, and what made this all worse is the fact that even the email addresses of the customers were picked up.
British Airways’ customers have been making brought the issue to social media and discovered the breach issue, not from the company itself but other media outlets including news media, and Twitter.
Emails were sent to British Airways’ customers, thus, causing them to cancel and replace their cards. However, this left them frustrated with having to deal with the banking industry that would only make them wait due to a high volume of calls.
The striking similarities amidst all the hacking incidents include poor communication following the event, delays in discovering the hacking activity, and executives apologizing to all individuals affected.
Back when the hacking incident happened it hit British Airways’ share price, bringing the trading down by 3 percent, which is £400m off the market value of the company. The money needed to compensate the company’s clients who lose out through all these fraudulent acts is real and may have a significant impact on British Airways.
Not only did the hacking incident affect the airlines’ financial status, but it also has the potential of causing damage to the reputation of British Airways. This incident requires organizations, particularly BA, to tighten its regulatory and legal strings. And now comes the GDPR fine…