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German Companies Hit by Soaring Cybercrime Losses

Cybercrime has become a major challenge for German companies, with damages reaching nearly €300 billion, equal to $354 billion, over the past year. The rising wave of attacks has exposed critical industries to serious risks, with both organised crime groups and foreign intelligence services playing a central role.

One of the most serious incidents involved hackers stealing 750 gigabytes of highly sensitive data from defence company Rheinmetall. The stolen files contained detailed information about military equipment, including Puma tanks.

Experts caution that many of these attacks are being driven by foreign intelligence services, mainly linked to Russia and China. Ransomware continues to be the most common threat, with organised crime networks demanding ransom payments between €100,000 and €500,000 from affected companies.

In response to these growing threats, German companies are significantly increasing their spending on cybersecurity. Compared to 2022, businesses have doubled their investments to strengthen digital defences and reduce the risks posed by cyberattacks.

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