The Cyber Monitoring Centre is to work with the British Chambers of Commerce to gather data and insights about the impact of cyber events such as the Crowdstrike incident on UK businesses.
Through this collaboration, the British Chambers of Commerce conducts polls of their members immediately following significant cyber events to assess whether and how severely they have been affected. The data is shared with the CMC to provide insights into the impact across various industries and sizes of company.
Will Mayes, CEO of the Cyber Monitoring Centre, said: “Polling with the British Chambers of Commerce gives us access to valuable insights that are not available from our other data sources. 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”.
David Bharier, Head of Research at the BCC, added: “Understanding the impact of cyber events on the economy will be crucial to shape a more effective response. We are pleased to support the Cyber Monitoring Centre in this important work, which will contribute to greater transparency around cyber events.”
In 2024, polling has been completed for three cyber events, including most recently the CrowdStrike incident. The resulting data provided unique insights across industries, including those, such as manufacturing and construction, which were largely overlooked in media coverage. Members of the British Chambers of Commerce provided data on financial losses, the duration of the disruptions, and the causes of the loss, such as the inability to process client orders, delivery delays, lack of data systems access, and payment system failures.
