Cyberattack hits Germany’s largest leasing association

German leasing association Deutsche Leasing was forced to shut down its IT services on 3 May following a cyberattack on its systems. The association announced the attack on its website on 6 June, stating that its IT system had been switched off, including its data and email system. As a result, the systems are inaccessible to its 2,850 employees and customers, including small and medium-sized enterprises (SMEs). New lease agreements can be signed on paper, but they cannot be transferred to the IT systems for activation. 

The full extent of the attack is not yet known. It is also unclear whether a ransom has been demanded or whether the attack was ransomware. The subsidiaries Deutsche Anlagen-Leasing (DAL) and Deutsche Factoring Bank (DFB) have not been affected by the shutdown. There is currently no indication that the problem will spread, as both subsidiaries have separate IT systems.

The German Leasing Association, which is owned by 350 German savings banks, holds the leading market position in the German SME sector and is regarded as one of the top 5 leasing providers in Europe, covering 20 countries around the world.