Cyber attack on Jaguar Land Rover causes more than $2.5 billion in damage

The cyber attack on Jaguar Land Rover (JLR) is estimated to have cost the UK at least £1.9 billion ($2.53 billion), being described as “the most economically damaging cyber event” in the country’s history.

According to analysis by the Cyber Security Monitoring Centre ( CMC ), a non-profit organization that assesses the severity of cyber events in the UK, the month-long disruption of JLR's internal systems and production operations affected more than 5,000 organizations in the UK.

“This incident appears to be the most financially damaging cyber event ever to occur in the UK,” said Ciaran Martin, former head of the National Cyber Security Centre (NCSC) and chairman of the CMC’s Technical Committee.

JLR, owned by Tata Motors (India), has only partially resumed car production in the UK after being suspended since August 31 due to a cyber attack. The severe impact on JLR's suppliers has prompted the UK government to intervene, providing a £1.5 billion loan guarantee to help the carmaker access credit.

CMC said the financial losses mainly came from a decline in vehicle sales, reduced profits due to production disruptions, incident handling costs, and impacts on the supply chain and other local businesses.

This estimate is based on the assumption that JLR will not be able to fully restore production until January 2026 and that hackers have not penetrated the company's “operational technology”, otherwise the fix will take much longer.

In recent years, the UK has seen a series of ransomware cyber attacks targeting companies and organisations, including retailers Marks and Spencer, Co-op and NHS England.

The financial damage from the cyber attacks on the two retailers ranged from £270 million to £440 million, according to CMC estimates in June.

The National Crime Agency (NCA) is leading the investigation into the JLR attack but has yet to reveal details about the perpetrators. CMC’s estimate does not include assumptions about whether JLR paid the ransom.

Mr Martin said companies often focus resources on protecting customer data due to legal obligations, but cases like JLR show the growing risk of hackers not only stealing data but also destroying the critical networks that support a company's operations, leading to high remediation costs./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/vu-tan-cong-mang-nham-vao-jaguar-land-rover-gay-thiet-hai-hon-25-ty-usd-post1071933.vnp