Cyber Siege: Foreign Intelligence Threatens German Economy

A new survey reveals that foreign intelligence agencies, primarily from Russia and China, have launched cyber attacks costing the German economy nearly 300 billion euros last year. Small and medium-sized businesses are particularly vulnerable, while large companies remain better equipped to handle these threats.

A recent survey underscores the escalating threat of cyber attacks orchestrated by foreign intelligence agencies, impacting the German economy to the tune of approximately 300 billion euros in the past year. With Russia and China identified as primary sources, these cyber incursions signal a growing geopolitical struggle.

Ransomware continues to be the most pervasive threat, with 34% of surveyed companies facing such attacks. Notably, the geopolitical tensions following Russia's invasion of Ukraine have intensified the cyber landscape, placing increased pressure on businesses, particularly small to medium-sized enterprises.

The industry group Bitkom, which conducted the survey among 1,000 companies, warns of the blurring lines between cybercrime and cyberespionage. As companies grapple with substantial losses, authorities highlight the need for enhanced cybersecurity measures and international cooperation to combat these threats.

(With inputs from agencies.)