# German Firms Hit Hard: Cybercrime and Sabotage Cost $300 Billion in Past Year 💥

**URL:** <https://onehack.st/t/german-firms-hit-hard-cybercrime-and-sabotage-cost-300-billion-in-past-year/290153>\
**Category:** News & Articles\
**Tags:** business\
**Created:** [August 29, 2024, 10:00am UTC](https://onehack.st/t/german-firms-hit-hard-cybercrime-and-sabotage-cost-300-billion-in-past-year/290153 "2024-08-29T10:00:59Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [August 29, 2024, 10:00am UTC](https://onehack.st/t/german-firms-hit-hard-cybercrime-and-sabotage-cost-300-billion-in-past-year/290153/1 "2024-08-29T10:00:59Z")

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**Summary:**

* * *

1. **Soaring Costs**  
German companies faced a staggering $298 billion in losses from cybercrime and sabotage last year, marking a 29% increase from the previous year.

2. **Rising Threats**  
A survey reveals that 90% of firms anticipate more cyberattacks, with a significant portion of attacks attributed to organized crime and foreign nations like China and Russia.

3. **Increased Spending and Preparedness**  
Companies are boosting their IT security budgets to 17% but struggle with emergency planning, with only 37% having a plan for supply chain security incidents.

**Read more at:** [Reuters](https://reuters.com)