Cyberattack on JLR triggers $2.55 billion shockwave

The recent cyber-hack of Tata Motors-owned Jaguar Land Rover (JLR) has been designated as the most economically damaging cyber event to ever hit the UK, causing an estimated financial impact of £1.9 billion ($2.55 billion) and affecting more than 5,000 organisations, according to an independent report released on Wednesday.

- PTI & REUTERS

The assessment, published by the Cyber Monitoring Centre (CMC) — an independent, nonprofit body comprising industry specialists including the former head of Britain's National Cyber Security Centre — classified the attack as a Category 3 "systemic event" on its five-point scale. "The CMC model estimates the event caused a UK financial impact of £1.9 billion and affected over 5,000 UK organisa-tions," the centre said. "The modelled range of loss is between £1.6 billion and £2.1 billion, though this could rise if operational technology has been significantly impacted or if production recovery takes longer than anticipated."