More than half of companies operating in Germany have fallen victim to spying, sabotage or data theft over the last two years.
That’s according to the German IT industry’s trade association Bitkom, which values the strikes at around €55bn.
Arne Schoenbohm, head of Germany’s federal cyber agency, told Reuters smaller business were particularly poorly protected against the threat.
Schoenbohm revealed earlier this month that some German firms had been forced to stall production for two weeks after being struck by NotPetya malware.
But viruses aren’t the only cyber-threats facing firms. According to Bitkom, some lost millions to ‘CEO Fraud’, a scam in which fraudsters masquerade as senior execs to tell finance staff to redirect funds into a rogue bank account.
In a statement reflecting on Bitkom’s research, Schoenbohm said: “The high number of companies affected clearly shows that we still have work to do on cyber security in Germany.”