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Global: Germany Faces €206 Billion in Cybercrime and Digital Theft Costs, Bitkom Report Reveals

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A recent survey conducted by the digital association Bitkom has unveiled that Germany is projected to incur €206 billion in losses due to stolen IT equipment, data breaches, and digital and industrial espionage in 2023.

The comprehensive study, which encompassed over 1000 companies, has indicated that this damage will surpass €200 million for the third consecutive year.

The survey data further underscores that 75% of the participating companies encountered cyberattacks over the past year, though this figure has slightly decreased from the previous year’s 84%. Impressively, 52% of these businesses now perceive cyberattacks as a genuine threat to their existence, which marks a significant increase from the 45% reported a year earlier and the 9% figure from two years ago.

Among the surveyed companies, a substantial 70% reported incidents of sensitive data theft, representing a 7% rise from the preceding year. Moreover, 61% of these businesses stated that their digital communications had been subjected to unauthorized surveillance.

Bitkom’s president, Ralf Wintergerst, said: “The German economy is a highly attractive target for criminals and hostile states. The boundaries between organized crime and state-controlled actors are blurred.”

Sinan Selen, President of the Federal Office for the Protection of the Constitution, emphasized: “Our response to this growing threat is to significantly strengthen cooperation with our partners, rapidly detect and respond to attacks, and continuously adapt our defense mechanisms to safeguard against these threats.”

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