Russia and China endeavor to impact the German economic landscape
In the digital age, cybersecurity has become a paramount concern for businesses worldwide, and Germany is no exception. A recent survey of German companies reveals a troubling trend: the increasing use of AI in cyberattacks and a rise in the number of cyberattacks overall.
AI-Powered Cyberattacks on the Rise
A staggering 66 percent of companies feel that AI is increasingly being used in attacks, a worrying development that underscores the need for advanced cybersecurity measures.
Cyberattack Levels on the Upsurge
The optimism of yesteryears seems to be waning, as only 18 percent of companies expect the level of cyberattacks to remain the same. The reality is far from reassuring, with 47 percent of companies anticipating a slight increase, and 35 percent bracing for a significant increase in the coming twelve months.
Intellectual Property at Risk
The impact of these cyberattacks is far-reaching, with intellectual property, such as patents or research and development information, leaked in 29 percent of affected companies. This could potentially compromise Germany's competitive edge in the global market.
Ransomware Attacks Surge
Ransomware attacks have seen a significant increase, with 34 percent of companies affected, compared to 12 percent in 2022. Companies are particularly affected by these attacks, with 34 percent of affected companies paying ransom, and 15 percent not providing information on this.
Digital Sabotage Prevalent
Most attacks on companies now occur digitally. 73 percent of all German companies were affected by digital sabotage, a testament to the vulnerability of the digital infrastructure.
Increased Cooperation Between Authorities and Companies
There's a silver lining, however, as more than 35 percent of companies now receive indications of their attackers from authorities, thanks to increased cooperation between security agencies and companies.
Foreign Threats Loom Large
Foreign intelligence services are increasingly targeting the German economy. 28 percent of affected companies could attribute at least one attack to a foreign intelligence service, notably from Russia and China.
Germany's Economic Damage from Cyberattacks
The damage from cyberattacks, including data theft, industrial espionage, and sabotage, on the German economy has risen to 289.2 billion euros. The share of cyberattacks in the total damage to the German economy has increased to 70 percent, up from 67 percent.
Companies' Dependence on US Security Solutions
Two-thirds (67 percent) of companies consider their company too dependent on security solutions from the USA, a potential cause for concern in the context of geopolitical tensions.
Growing Threat Perception
89 percent of companies feel threatened by theft, sabotage, and industrial espionage, with 72 percent considering it a significant threat. The threat is so severe that 59 percent of companies feel threatened in their business existence by cyberattacks, an increase from previous years.
IT Security Budgets on the Rise
In response to these threats, the proportion of IT security in companies' IT budgets has risen slightly, now at 18 percent.
For the first time, the total damage from cyberattacks has exceeded 200 billion euros, at 202.4 billion euros. As the digital landscape continues to evolve, it is crucial for companies to stay vigilant and invest in robust cybersecurity measures to protect their assets and ensure business continuity.
