Mint Explainer | From JLR to iPhones, are cyberattacks hurting Tata’s global goals?
Why can cyberattacks prove to be expensive?
Even when no customer data is stolen, cyberattacks can be extremely expensive because the damage extends far beyond the initial breach. Companies may have to shut down systems, pause production lines, and even restrict access to critical internal networks while investigating the incident. Additional costs include restoring and investing in backup systems. If a ransom is paid, the financial hit can run up to millions of dollars. Reputational damage can also affect future business opportunities.
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