Nearly half of all cyber attacks are aimed at the financial industry
In a recently published Cybersecurity Report, concerns about the dependence of German companies on US cloud providers have come to the fore. With over 75% of German firms expressing worry about this issue, the report highlights the challenges posed by the strong reliance on US digital infrastructure, especially in cloud and software services.
This dependence creates significant cybersecurity and digital sovereignty risks. As the majority of malicious requests, approximately 42 percent, originated from the USA, the report underscores the importance of having control over sensitive data and infrastructure. This is particularly critical for government and critical infrastructure sectors, where 84% of IT decision-makers prefer European solutions to enhance security and control.
However, the adoption of European solutions faces technological and market barriers, with less than 25% of companies currently using European cloud services. To address this, the German federal government has emphasized the need for national cloud solutions and data centers to secure sovereignty and independence. Initiatives include promoting AI gigafactories and strengthening digital infrastructure, with a strategic focus on reducing dependence on US, Chinese, and other non-European digital technologies.
Proposed measures to promote European technologies include encouraging the development and use of German and European cloud providers and data centers as alternatives to US hyperscalers, implementing multi-cloud strategies, supporting open-source software, and investing in European providers to close the technological gap with dominant US players.
Germany is not alone in this digital sovereignty challenge. The report indicates that Germany follows with 19 percent, China with 12, and Russia with 3 percent in the number of malicious requests. The technology industry is the most frequently targeted, with 38 percent of attacks.
Protective measures are optimized based on the analysis of traffic flows, and the financial sector is particularly affected by cyber-attacks. The report does not mention any recent cyber-attacks or their intensity, but it suggests that Europe must urgently promote its own technologies to avoid relying on others to solve its digital problems.
In summary, the cybersecurity implications of Germany's dependence on US digital infrastructure underscore a broader effort to develop and promote European digital sovereignty through investment in homegrown cloud, AI, and data services, alongside strategic policies to foster technological parity and trusted infrastructures within the EU. The report does not discuss the use of techniques such as IP spoofing, reflection attacks, and globally distributed botnets in the context of the digital threat situation.
- To mitigate the cybersecurity risks associated with dependence on US digital infrastructure, the German government is advocating for national cloud solutions and data centers, which could potentially be bolstered by promoting AI gigafactories and strengthening digital infrastructure.
- In an effort to ensure financial sector security and digitally sovereign infrastructures, the report suggests Europe should urgently promote its own technologies, such as German and European cloud providers and data centers, as alternatives to US hyperscalers, alongside protective measures optimized based on traffic flow analysis.
