Two-Thirds Of German Manufacturers Hit By Cyber Attacks, Costing $50 Billion

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Research has found that two thirds of Germany’s manufacturers have been hit by cyber-crime attacks, costing industry in Europe’s largest economy some 43 billion euros ($50 billion). 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.

James Hadley, CEO and Founder at Immersive Labs:

“Many cyber authorities from across Europe have recently delivered warnings to industry, advising them that cyber security is no longer a strategy to be created and then forgotten about. Instead, as echoed by Bitkom, a cyber security strategy should be taken seriously as a constantly developing process that starts with the CEO and carried throughout the business.”