Provider of business process services Capita plc (LON:CPI) today announced it has reached a settlement with the Information Commissioner’s Office (ICO) in respect of its findings regarding the March 2023 cyber attack.

The settlement includes a penalty of £14 million.

As FX News Group has reported, on March 31, 2023, Capita experienced a cyber incident primarily impacting access to internal Microsoft Office 365 applications.

The company explained that this caused disruption to some services provided to individual clients, though the majority of Capita’s client services remained in operation.

Capita noted today that it regrets the incident and can reaffirm that, following a detailed forensic investigation, all those identified as potentially impacted were contacted after the attack.

Adolfo Hernandez, Chief Executive Officer, Capita said:

“As an organisation delivering essential public services as well as key services for private sector clients, Capita was among the first in the recent wave of highly significant cyber-attacks on large UK companies.

“When I joined as CEO the year after the attack I accelerated our cyber security transformation, with new digital and technology leadership and significant investment. As a result, we have hugely strengthened our cybersecurity posture, built in advanced protections and embedded a culture of continuous vigilance.

“Following an extended period of dialogue with the ICO over the last two years, we are pleased to have concluded this matter and reach today’s settlement. The Capita team continues to focus tirelessly on our Group transformation journey for the benefit of our customers, our people and wider society.”

Reflecting the impact of the £14m penalty, Capita now expects free cash outflow before the impact of business exits of between £59m- £79m, with no other changes to the previous guidance of £45m- 65m.

Capita continues to expect to be cash positive from the end of 2025. Its full year 2025 guidance, together with its medium-term targets also remain unchanged.