US EditionCosts of Russian, Chinese Cyberattacks on German Firms on Rise: Report
Cyberattacks from Russia and China accounted for 46% of incidents against German firms, causing €289 billion in damages, an 8% rise from last year, officials reported.
- Thursday, Sinan Selen, deputy head of Germany's domestic intelligence agency BfV, and Bitkom warned that Russia and China intensified cyber operations targeting German businesses.
- Foreign intelligence agencies have expanded targets beyond businesses to politics, administration, academia and civil society, and Selen named Iran and North Korea as additional perpetrators in recent years.
- Data shows cyberattacks cost German businesses approximately 289B euros, with ransomware and related methods accounting for 202 billion euros.
- Bitkom advised companies to devote 20 percent of IT budgets to defense, as 28 percent of businesses identified state actors behind attacks, up from 20 percent last year.
- Selen warned hostile foreign intelligence agencies are becoming more professional, citing Russian and Chinese cyberattack groups targeting German businesses.
25 Articles
25 Articles
German companies record record damages of 289 billion euros due to sabotage, espionage and data hooves. More and more domestic intelligence suspects foreign agents behind the attacks.
Attacks by sabotage and data theft cost the German economy huge sums. According to a survey, the damage has risen to a maximum value at almost 300 billion euros. Often the trail leads to Russia and China.
Foreign intelligence agencies are increasingly targeting German companies, the trail often leads to Russia and China. A study shows, however, who is most often behind attacks against companies.
The German economy is facing increasing industrial espionage and data theft, often by foreign intelligence agencies. According to a Bitkom survey, 87 percent of the companies last year were victims of such attacks, with a total damage of around 289 billion euros.
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