Cyber Oktoberfest: Germany’s Spiraling Cybercrime Costs

Germany, a hotspot for cybercrime, is projected to lose 206 billion euros ($224 billion) in 2023. As cyber espionage and sabotage escalate, the line between state-controlled actors and typical cybercriminals is blurring. Despite a slight decrease in the number of attacked companies, over 70% have had sensitive data stolen, prompting more than half to perceive cyber attacks as existential threats. Nevertheless, Germany is bolstering its cyber defenses, focusing on collaboration, swift detection, and response to attacks.