In times of increasingly scarce public funds, the protection of public assets is becoming more and more significant. This study examines the contribution that § 263 of the German Penal Code can make in this context. To this end, the study first thoroughly explores the scope of protection provided by § 263 in relation to public assets, also incorporating a comparative legal analysis of Swiss and Austrian fraud law. Subsequently, the issue of property damage is addressed, which forms the focal point of the investigation: central questions arise in the area of employment fraud. Furthermore, the current issue of so-called budgetary mismanagement is also examined. The study concludes that for § 263, it is possible to apply it without needing to assume a "fundamental" difference between public and private assets.