German Firms Hit Hard: Cybercrime and Sabotage Cost $300 Billion in Past Year 💥

News & Articles
,
1

Summary:

  1. Soaring Costs
    German companies faced a staggering $298 billion in losses from cybercrime and sabotage last year, marking a 29% increase from the previous year.

  2. Rising Threats
    A survey reveals that 90% of firms anticipate more cyberattacks, with a significant portion of attacks attributed to organized crime and foreign nations like China and Russia.

  3. Increased Spending and Preparedness
    Companies are boosting their IT security budgets to 17% but struggle with emergency planning, with only 37% having a plan for supply chain security incidents.

Read more at: Reuters