Jaguar Land Rover cyberattack costs UK $2.55 billion
A cyberattack on Jaguar Land Rover caused 2.55 billion dollars in economic damage to Britain according to a Wednesday report from the Cyber Monitoring Centre. The hack forced the Tata Motors subsidiary to halt manufacturing for six weeks and disrupted more than 5,000 businesses across the country. The independent security research group called this the most expensive digital breach in British history.
The automaker operates three factories that build about 1,000 vehicles daily. Production losses mounted to 50 million pounds weekly before operations resumed this month. The government backed a 1.5 billion pound loan guarantee in September to support the company and its suppliers through the crisis.
Experts rated the incident as a Category 3 systemic event on a scale reaching five. Marks and Spencer lost approximately 300 million pounds when hackers shut down online services for two months in April. The attack affected manufacturing plants, supply networks, and dealerships throughout Britain.
