(Finance) – Cybersecurity rules on cmarketing of all products with digital elements; minimum requirements on the design, development and manufacture of digital devices; minimum requirements on vulnerability management throughout the entire life cycle of devices; supervisory rules for the sector.
These are the four key guidelines on which the European Commission aims to intervene and has presented one proposal for a new cyber resilience law to protect consumers and businesses from products with inadequate characteristics. This is the first legislation of its kind at EU level and in addition to increasing the responsibility of manufacturers by obliging them to provide security assistance and software updates to address identified vulnerabilities, it will allow consumers to have sufficient information on cybersecurity. of the products they buy and use.
“We deserve to feel safe with the products we buy in the single market. Just as the CE marking guarantees us the safety of a toy or refrigerator, the law on cyber resilience it will ensure that the connected objects and software we purchase comply with stringent cybersecurity measures, ”said Commission Vice-President Margrethe Vestager. “With the new law, the responsibility will lie with those who place the products on the market”.
According to Brussels, ransomware attacks affect every organization 11 seconds worldwide and have a global annual cost of cybercrime estimated at € 5.5 billion in 2021. So it is more important than ever to ensure a high level of cybersecurity and reduce vulnerabilities in digital products, one of the main reasons for success of such attacks. As smart and connected products become more widespread, a cybersecurity incident in a product can impact the entire supply chain, possibly resulting in severe disruption of economic and social activities in the internal market, can compromise security or even have life-threatening consequences.