Cyber attacks cost German economy 300 billion euros in past year, survey finds

By Thomas Escritt

BERLIN (Reuters) -Cyber attacks, launched increasingly often by foreign intelligence agencies rather than criminals, cost the German economy almost 300 billion euros ($354.99 billion) over the past year, according to a survey published on Thursday.

The survey by industry group Bitkom found that almost half of all companies that could identify the sources of attacks had traced them to Russia and China, while about a quarter traced them to other European Union countries or the United States.

“The trail leads relatively clearly and unambiguously to the east, with two countries at the forefront: Russia and China,” Ralf Wintergerst, Bitkom’s head, told a press conference, unveiling the survey of some 1,000 companies.

The darkening shadow of global geopolitical competition,