Factories shut for over a month and suppliers suffered in particular. A report puts the costs at around $2.5 billion, making it the most economically damaging cyber event ever to hit the UK.
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A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain, December 15, 2022.
Jaguar Land Rover’s UK facilities, including this one in Solihull, typically produce around 1,000 new cars a day (file photo from 2022)Image:
The hack of British-based, Indian-owned Jaguar Land Rover (JLR) that shut down several production facilities for weeks cost the UK economy an estimated 1.9 billion pounds (roughly €2.2 billion or $2.5 billion) and affected more than 5,000 organizations, an independent cybersecurity body said in a report published on Wednesday.
“This incident appears to be the most ecnomically damaging cyber event ever to hit the UK, with the vast majority of the financial impact being due to the loss of manufacturing output at JLR and its suppliers,” the report said.
It noted how the lion’s share of the costs hailed from the need to halt production, and warned that companies should pay more attention to operational security and to compartmentalizing so that IT weaknesses are less liable to lead to real world disruptions.
