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IT attacks cause more than 200 billion euros in damage to German companies

The German economy suffers annual losses of around 203 billion euros due to theft of IT equipment and data, espionage and sabotage, according to a study by Bitkom.

84 percent of the more than 1,000 companies surveyed by the digital association were affected by attacks last year, and another 9 percent expect to be affected. The main sources of IT attacks are China and Russia. 43 percent of affected companies identified at least one attack from China, while 36 percent identified perpetrators in Russia. Last year, 30 percent of companies were affected by Chinese attacks and 23 percent by Russian attacks. Organized crime and gangs are most frequently behind the attacks, accounting for 51 percent.

"With the Russian war of aggression against Ukraine and hybrid warfare in the digital space, the threat of cyberattacks to the economy has become a focus of attention for companies and politicians. However, the threat level remains high regardless of this,"

says Bitkom President Achim Berg.

"Attackers are becoming increasingly professional and are more frequently found in organized crime, making it increasingly difficult to distinguish between criminal gangs and state-controlled groups. However, this year's results also show that with appropriate measures and precautions, companies can ensure that attacks are repelled or at least the damage is limited."

The Vice President of the Federal Office for the Protection of the Constitution Sinan Selen confirms the results of the Bitkom-Investigation:

"The assessments in the study are also reflected in the BfV's cyber defense assessment. The boundaries between cyber espionage and cybercrime are becoming increasingly blurred. We must prepare not only for the outsourcing of espionage, but also for states using cybercrime as a cover for their own operations. We are observing a blending of analog and digital attack vectors. Furthermore, state actors are flexibly shifting their target spectrum, depending on their political agenda, from business to politics and vice versa. As an intelligence agency, the BfV can meet these challenges because we can combine valuable insights from operational measures and from exchanges with international partners."

IT attacks are becoming an increasingly serious problem for companies

IT attacks are becoming an increasingly serious problem for companies. Thirty-nine percent of companies report that cyberattacks have increased significantly in the past 12 months, and another 45 percent say they have increased somewhat. Operators of critical infrastructure report a sharp increase in IT attacks, while 38 percent say they have increased somewhat. Forty-five percent of all companies believe that cyberattacks can threaten their business existence.

Respondents expect the problem to become even more serious in the future: 42 percent of companies anticipate a sharp increase in attacks in the next 12 months, and 36 percent expect a fairly sharp increase. Operators of critical infrastructure expect a sharp increase, with 51 percent anticipating a sharp increase, and 33 percent expecting a fairly sharp increase. Ninety-two percent of companies consider ransomware attacks to be very or somewhat threatening. 91 percent fear zero-day exploits, and 85 percent fear spyware attacks.

As the perceived threat increases, so does the spending on defense: The companies surveyed invest an average of 9 percent of their IT budget in defense against attacks. A year ago, this figure was 7 percent. However, Bitkom President Berg is calling for even greater investments in IT security:

"Companies urgently need to increase their spending on IT security. The dramatic consequences of a successful attack have long been recognized—but the necessary protection against them doesn't come for free. Boards of directors and management teams must take immediate action."

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