Jaguar Land Rover has become the victim of the costliest cyber attack in British history: that’s the verdict of cybersecurity experts, with some estimating further impact could be felt down the line.
Analysts from the Cyber Monitoring Centre (CMC), a non-profit organisation specialising in the monitoring and evaluation of cyber events across the globe, estimates the ransomware attack on JLR is likely to have cost anything between £1.6 and £2.1billion, with £1.9billion being the most likely figure.
With estimates suggesting that JLR was losing as much as £50million per week during the shutdown, the CMC has rated the attack as a “Category 3” systemic event on its scale of severity (one being low risk and five being catastrophic). The costly nature of the incident makes it the biggest financial impact of its kind in British history – even more so than the recent hacks of M&S and the Co-op.
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