From the point of view of German companies, the risk of digital attacks is increasing. Attacks by state secret services are also increasingly feared.
The concern of German companies about cyber attacks and data theft has grown significantly. Organized crime attacks in particular, but also attacks from Russia and China, pose a threat from the point of view of executives, according to a survey by the consulting and auditing company EY. EY partner Bodo Meseke spoke of a “continuous digital arms race with criminals, hacktivists and even foreign secret services.”
According to the survey, more than two out of three companies (68 percent) rate the risk of becoming a victim of a cyber attack as “rather high” to “very high”. Compared to the previous survey in 2021, this is an increase of five percentage points. The risk is estimated to be higher than it has been since the first survey in 2011. “In Germany alone, we are talking about a three-digit billion dollar loss from cybercrime – and that every year. Follow-up costs, such as the loss of image after a successful attack, are not even included.” , explained Meseke.
37 percent of the companies gave concrete indications of cyber attacks or data theft. In the survey two years earlier, however, it was still 44 percent.
Companies expect attacks from China and Russia
According to almost three quarters (72 percent) of the 500 respondents, the risk of becoming a victim of a cyber attack has increased over the past two years. Above all, attacks by organized crime are feared. Almost three quarters of managers (73 percent) see this as a high risk, followed by threats from so-called hacktivists such as the hacker collective “Anonymous”.
Foreign secret services (36 percent) pose a greater risk from the point of view of executives than they did two years ago (30 percent). The companies are therefore most likely to expect attacks from Russia or China. The answers are likely to be influenced by the current global political situation. In recent years, however, cyber attacks that have been tolerated by the state or supported by countries have increased significantly, explained Meseke.
Despite the growing concerns, one in three respondents (33 percent) said that their own company was not sufficiently protected against digital attacks.
Source: Stern
