Capita reports £107mn annual losses, blames cyberattack

12 Mar 2024 12:30 PM | Shivani Kaura (Administrator)

Capita, the outsourcing behemoth, has revealed staggering annual losses totalling more than £106.6 million ($135.5 million), with a significant portion attributed to a cyberattack it suffered last March.

The attack, identified as a ransomware breach orchestrated by the notorious Black Basta group, wreaked havoc on the company's financial health, resulting in direct costs of £25.3 million ($32 million).

Initially estimating the incident's impact at £20 million, Capita's revised figures underscore the extensive repercussions of the attack.

Read the full article on Computing here.

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