Recent Report Reveals German Manufacturers Facing Huge Losses due to Cyberattacks

In a recent survey published by the IT sector association of Germany, it was revealed that the manufacturers of Germany have faced huge losses, in billions, due to the cyberattacks. As per a survey released by the industry association Bitkom, in which they surveyed 503 security chiefs and top managers belonging to the manufacturing sectors of Germany, the industry faced a loss of around 43 billion euros due to the cyberattacks.

The surveyors found it noteworthy to record that around two-thirds of the German manufacturers, who are part of Europe's largest economy, have been targeted by the cybercriminals. The findings of survey further revealed that the small companies as well as the medium-sized companies of Germany, which are otherwise considered to be the backbone of German economy, are specifically found vulnerable to the cyberattacks.

At the release of the survey report, the head of Bitkom, Achim Berg, mentioned in his statement that the German industry have always been the center of interest to the cyber criminals because of the reason that they are the market leaders, worldwide. Moreover, Berg insisted that the companies should adopt the cyber security measures more seriously, and should make investments judiciously including the cyber security.

The survey report highlighted the risks all across the spectrum. As per the survey, almost one-third of the surveyed companies have reported that the mobile phones are being stolen; whereas, around one-fourth of the surveyed companies complained that their sensitive digital data were lost.

Further, the survey also revealed that there are evidences of cyber criminals using other tools and techniques to dodge their German competitors. Out of the companies surveyed, around 19 percent confirmed that their production systems and IT have faced a digital sabotage. Also 11 percent of the companies that are surveyed reported that their communication was tapped.

The German security officials have repeatedly warned about the cybercrimes. The security officials of Germany sounded the alarm many times regarding the risk of foreign spy agencies that are well-resourced taking help of the cyberattacks to steal advanced techniques of manufacturing from one of the leading exporters of the world.

» SPAMfighter News - 9/26/2018