More than a few people have declared that “Information is power.” But that’s the easy part. Getting it is the hard part. In today’s digital landscape, where cyber threats constantly evolve, timely and accurate information is crucial for businesses to understand, mitigate, and ultimately prevent disruptions. Recognizing this, the Cyber Monitoring Centre (CMC) has partnered with the British Chambers of Commerce (BCC) to strengthen UK businesses’ resilience to cyber incidents through data-driven insights.
The Cyber Monitoring Centre (CMC) has partnered with the British Chambers of Commerce (BCC) to track the impact of cyber events on UK businesses. This collaboration involves the BCC polling its members after major cyber incidents to assess the scale of disruptions and financial losses across various industries.
So far in 2024, the BCC has polled members following three major cyber events, including the recent CrowdStrike incident. The data collected has provided insights into sectors like manufacturing and construction, often neglected in mainstream media. Responses have highlighted UK businesses’ disruptions, from delays in processing client orders to payment system failures.
“Collaboration”
CMC CEO Will Mayes emphasized the unique value of this partnership, noting that the BCC data offers both quantitative and qualitative perspectives on cyber disruptions. “The partnership not only provides quantitative data, but also offers qualitative context on the causes of disruption and loss. In the case of the CrowdStrike event, it enabled our technical committee to better understand the cascading effects of the event due to the interdependencies within the UK’s digital ecosystem,” he said.
David Bharier, Head of Research at the BCC, underscored the importance of understanding cyber event impacts to shape effective responses. “Understanding the impact of cyber events on the economy will be crucial to shape a more effective response,” Bharier stated.
The CMC is a non-profit organization that analyzes and categorizes cyber events impacting UK organizations. In 2025, it will provide categorized reports on cyber incidents for free to support improved cyber mitigation and response strategies.
Source: Cyber Monitoring Centre partners with British Chambers of Commerce.
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