The European Union Proposes New Laws to Reduce European Nation’s Vulnerabilities to Cyberattacks
The European Union is implementing new legislation that urges manufacturers to confirm smart devices meet cybersecurity standards. The EU said that the implementation is to make the nations less vulnerable to cyberattacks.
The proposed law comes in after the subsequent observations from the EU. According to the EU, ransomware attacks occur every eleven seconds. In 2021, the EU estimated the annual cost of cybercrime to be 5.5 trillion euros globally and 290 billion euros in Europe.
Furthermore, the European Commission observed an increase in cyberattacks during the coronavirus pandemic. The commission has raised concerns about hackers targeting European infrastructure due to the Russian-Ukraine war.
The law proposed as the “Cyber Resilience Act” aims to remove products less than the cybersecurity standards from the EU market. The EU Commission said the will benefit consumers as it improves data privacy and protection while curbing cyberattacks.
Thiery Breton, the EU commissioner for the internal market said concerning cybersecurity, “When it comes to Cybersecurity, Europe is only as strong as its weakest link, be it a vulnerable member state or an unsafe product along supply chains.”
He said that electronic devices are the potential entry points for a cyberattack and added that most devices are not subject to any cybersecurity obligation.
The law requires manufacturers to prioritize cybersecurity in the design and development of their products. Companies would remain responsible for the security of their products throughout their lifetime or a minimum of 5 years.
The consequences for companies that do not comply would be paid in fines. Authorities of the market will be able to recall or disqualify non-compliant devices.
The Computer and Communications Industry Association (CCIA) agrees with the laws, however, said it will slow down innovation. CCIA Europe Public Policy Director, Alexandre Roure said, “These cybersecurity rules should strive to weed out bad products from the EU market. However, the current proposal would lead to innovative products piling up in the waiting room before they can be used by Europeans.”
Additionally, Roure said the new rules should recognize globally accepted standard. He added that the rules should be in alignment with trade partners to prevent duplicate requirements.
