Cyber attacks cost German industry almost $50 billion: study

Posted in: Legal & Security at 14/09/2018 23:27

Two thirds of Germany’s manufacturers have been hit by cyber-crime attacks, costing industry in Europe’s largest economy some €43 billion ($50 billion), according to a survey published by Germany’s IT sector association on Thursday.

Industry association Bitkom surveyed 503 top managers and security chiefs from across Germany’s manufacturing sector, and found the small and medium-sized companies that are the economy’s backbone were particularly vulnerable to attacks.

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