Jaguar Land Rover Hack Cost UK Economy an Estimated $2.5 Billion

An anonymous reader quotes a report from Reuters: The hack of Jaguar Land Rover, owned by India's Tata Motors, cost the British economy an estimated $2.55 billion and affected over 5,000 organizations, an independent cybersecurity body said in a report published on Wednesday. The report was produced by the Cyber Monitoring Centre, an independent, not for profit organization made up of industry specialists, including the former head of Britain's National Cyber Security Centre. It said losses could be higher if there were unexpected delays to the restoration of production at the vehicle manufacturer to levels before the hack took place in August.

'This incident appears to be the most economically damaging cyber event 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. JLR will report its financial results in November, according to the company's website. A spokesperson for JLR declined to comment on the report. JLR, which analysts estimated was losing around 50 million pounds per week from the shutdown, was provided with a 1.5 billion pound loan guarantee by the British government in late September to help it support suppliers.

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