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UK government bails out Jaguar Land Rover with £1.5B loan after hack disrupts vehicle production for weeks
The Indian-owned carmaking giant will be bailed out after a cyberattack stalled car production and its downstream supply chain. Critics argue that the bailout sends the wrong message to hackers and crime groups.
In a statement on Sunday, U.K. ministers said that the government-backed loan will “bolster JLR’s cash reserves so it can support its supply chain which has been greatly impacted by the shutdown.” Hackers associated with a financially motivated crime group linked to earlier hacks targeting the U.K. retail sector took credit for the breach. But some security experts have argued that the loan sends a signal that could encourage hackers and threat actors to target U.K. organizations if they think the U.K. government will bail out companies that have underinvested or cut their cybersecurity defenses.
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