Cybercrime To Cost Germany 206 Billion Euros in 2023, Survey Finds (reuters.com) 9
The theft of IT equipment and data, as well as digital and industrial espionage and sabotage, will cost Germany 206 billion euros ($224 billion) in 2023, German digital association Bitkom said on Friday. From a report: The damage will surpass the 200 billion euro mark for the third consecutive year, according to a Bitkom survey of more than 1,000 companies. "The German economy is a highly attractive target for criminals and hostile states. The boundaries between organised crime and state-controlled actors are blurred," Bitkom President Ralf Wintergerst said. Around three quarters of the companies surveyed suffered digital attacks in the past 12 months, falling from 84% of the companies in the previous year.
Re:It's higher than that (Score:4, Interesting)
what should we know, but my guess is that these figures are actually inflated. according to the breakdown (ofc there is barely any info on methodology and sample of the survey, this is likely just marketing fluff/justification):
https://www.bitkom.org/sites/m... [bitkom.org]
half of it would be:
Failure, theft or impairment of information and production systems or operational procedures 41.5
Blackmailing using stolen or encrypted data 10.7
Tarnished image in the eyes of customers or suppliers / Negative press coverage 23.6
Costs for investigations and compensating measures 10.1
Costs for legal disputes 16.2
ok, if they say so ...
however, these other ~100 billion have a very distinct smell of bullshit:
Measures under data protection law (e.g. informing of customers) 18.3
Violations of patent law (also before the application) 18.8
Revenue losses through losing competitive advantages 41.5
Revenue losses through imitated products (plagiarism) 21.1
now, to put this into some funny perspective, the budget for the entire german police force isn't even 5 billion.
Re: It's higher than that (Score:2)
A tenth of GDP sounds a bit much...
"but good security is too expensive!" (Score:3)
This is the cost of bad security.
Re: (Score:3, Interesting)
Yep. Caused by a combination of bad and really bad "mainstream" tech (MicroShit and others), incompetent management, a deep false conviction that IT has to be "cheap", all too many C-levels that are not in it for the long haul and just hope they are gone when their bad IT security decisions they did for more bonus payments to themselves become obvious (saw that at several banks), and a general lack of competent IT security experts and IT experts in general caused by bad working conditions, bad career option
Re: (Score:1)
Given most of the figure is immeasurable bullshit anyway and some of it (employee theft) unavoidable. Note this is a marketing corporation, they are pulling these figures out of their arse.
The actual cost of a breach has been about EUR 19,000 in 2018, if all 5M companies in Germany were breached (100% success rates on the part of the criminal), you would get to 100B Euros. That's about half of what the above article suggests.
With about 3-4000 euros of investment in cybersecurity on average per company in Ge
Counterfeit cash is the big problem... (Score:3)
It's almost as if they had an agenda to abandon cash for more cyber-crime friendly payment methods...