Partnership to poll members on the impact of cyber events on UK organisations
London – 5 November 2024: The Cyber Monitoring Centre (CMC), today announces its partnership with the British Chambers of Commerce to gather data and insights on the impact of cyber events 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.
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.
“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,” said Will Mayes, CEO of the Cyber Monitoring Centre. “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 British Chambers of Commerce, 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.”
About the Cyber Monitoring Centre
The Cyber Monitoring Centre is a non-profit organisation responsible for analysing and categorising cyber events that impact UK organisations. Events are categorised by an independent technical committee made up of leading cyber experts, and based on analyses of data from leading data providers. In 2025, event categorisation and event reports will be provided at no cost to any interested organisations and individuals to help increase the understanding of the impact of cyber events, and improve cyber mitigation and response plans.
For more information visit https://cybermonitoringcentre.com/ or follow us on LinkedIn.
About the British Chambers of Commerce
The British Chambers of Commerce (BCC) sits at the heart of a powerful network of 52 Chambers of Commerce across the UK, representing tens of thousands of firms. It provides a unified voice for these companies, rooted in their communities, at the national level. We link our UK network with over 75 international member chambers, to promote trade and investment, and work for a better future for businesses around the world. For more information visit https://www.britishchambers.org.uk/