The European Commission Proposes A Cyber Resilience Act

On 15 September 2022, the European Commission published a proposal for a new regulation on cyber security (Cyber Resilience Act) (COM (2022) 454 final) that will protect consumers and businesses from products with inadequate safety features.

The proposal forms a part of the EU Cybersecurity Strategy and the EU Security Union Strategy, and has been presented partly as a result of the increased number of cyber-attacks during the covid-19 pandemic. The European Commission estimates that the annual costs of data breaches are at least EUR 10 billion and the annual costs of malicious attempts to disrupt traffic on the internet to are estimated to be at least EUR 65 billion.

The following measures have been proposed: