According to a survey presented on Wednesday, German companies have suffered losses from cybercrime and other forms of sabotage worth over 267 billion euros ($298 billion) in the last year, a 29% increase from the previous year.
Over 90 percent of the 1,000 businesses questioned by industry company Bitkom across all sectors expected an increase in cyberattacks in the upcoming year, while the remaining 10 percent expected the same level of attacks.
According to the survey, 81% of the targeted organizations reported data theft, including customer, access, and password data, as well as intellectual property like patents. Approximately 70% of the companies linked the attacks to organized crime.
Around 45% of businesses stated they could link China to at least one attack, an increase from 42% the year before. Attacks attributed to Russia ranked second, at 39%.
According to Bitkom President Ralf Wintergerst, “the threat situation for the German economy is worsening,” and businesses need to take more precautions.
Companies now spend 17% of their IT budget on digital security, up from 14% the previous year, as a result of the increase in attacks. However, according to the poll, just 37% of those surveyed claimed their supply chain had an emergency strategy in place for handling safety risks.
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