Original report (pdf, only in German language available)
- Damage caused by data theft, industrial espionage and sabotage increases to 289.2 billion euros in Germany in the last 12 months, 9 in 10 companies (87%) were effected
- The largest part of the 289.2 billion euros in damages reported by the 1,002 companies polled came from concrete production losses or theft, but legal and remediation costs were also substantial
- Cyberattacks: Almost three out of four companies register increase in attacks
[…]
The survey by Germany industry group Bitkom found that almost half of all companies that could identify the sources of attacks had traced them to Russia and China, while about a quarter traced them to other European Union countries or the United States.
In detail, of the companies affected, 46 percent have detected at least one attack from Russia (2024: 39 percent), as many from China (2024: 45 percent). Attacks from Eastern Europe outside the EU (31 percent, 2024: 32 percent), from the USA (24 percent, 2024: 25 percent), from EU countries (22 percent, 2024: 21 percent) and Germany (21 percent, 2024: 20 percent).
[…]
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The German economy could be made hacker proof by switching all electronic communication back to fax, and using the Sütterlin or Antiqua font as encryption.
Companies, which cannot even secure their IT systems properly, can trace the origin of the attacker reliably. 😅, I doubt that. IT attribuition is nearly impossible if I am not watching the culprit physically while performing the attack.
Better headline:
German businesses neglect IT infrastructure and sustain 300 billion in damages for it
Yet, we still have an alarmingly high percentage of people who think of Russia as a ‘friend’.
Yeah, and there are also a lot who think the same of China.
Yeah, and there are also a lot who think the same of usa
almost 300 billion
Which would be… more than 5% of the German GDP?
I’m too lazy to properly fact-check this, but it smells like BS (may be the article, may be a brain fart of mine)
According to 2023 report by Cybersecurity Ventures (pdf), Cybercrime would cost the world USD 9.5 trillion. If it were measured as a country, then ‘cybercrime land’ would be the world’s third largest economy after the U.S. and China. Download the Report.
The insight of over 2,700 risk management professionals from 94 countries and territories, analyzed and published in the 2023 version of
The Allianz Risk Barometer -again, for 2023- indicated that close to half — 45 percent — of the 2,700 surveyed experts say cyber incidents are the most feared cause of business interruption, even more so than natural disasters or energy concerns.
These are number from 2023, so they are likely higher today.
It somehow feels that the 1.5% of GDP European Nato members have obliged to spend for security outside traditional military budgets - which includes exactly such cyber attacks - are well spend, because the damage caused by such incidents is far higher.
I posted this in response to a similar comment in another thread:
It’s hard to get reliable numbers. One study I could find is a review published by the World Bank in 2024 that analyzes the long-term development of cyber incidents and their economic costs. Among others, it says:
According to the UK Cabinet Office, in 2011, the UK government estimated that the costs of cybercrime was USD 33.67 billion or about 1.3% of the country’s GDP, with the largest share posed to businesses—about 77.78%. Grant Thornton (2021) shows that in 2014, the total cost of cybercrime in Ireland was USD 695.5 million, and then, in 2020, it increased dramatically to USD 10.5 billion, or 2.5% of the country’s GDP.
Note that the 1.3% of UK’s GDP and Ireland’s 2.5% relate to 2011 and 2014, respectively. So we may reasonably assume it’s much higher. Although the numbers in this review are probably not fully comparable with Bitkom’s survey, it provides useful insights, and the 5% don’t seem so far-fetched.
