The European Commission's proposed new Cyber Resilience
Act (“CRA”) sets out cybersecurity
requirements for products with digital elements, such as IoT
products, operating systems and mobile apps.
With the European Commission estimating that the annual global
cost of cybercrime now amounts to an eye-watering €5.5
trillion, the CRA is part of a growing framework of legislation
designed to help combat cybercrime and will complement other key
cyber legislative developments (e.g. NIS 2 which we discussed in
another
recent briefing).
New Cyber Resilience Act
In order to address widespread vulnerabilities and the
insufficient security updates in smart devices and similar
technology, the European Commission released their proposal for a
regulation on horizontal cybersecurity requirements for products
with digital elements on 15 September 2022. The CRA will be the
first EU-wide legislation which introduces cybersecurity
requirements for products with digital elements
