New EU Cyber Security Legislation Targets Cyber Crime

European Union lawmakers are seeking to strengthen cybersecurity requirements across the European Union, advancing new legislation to bolster security requirements for all digital hardware and software products. 

The proposed law, titled the Cyber Resilience Act, would cover everything from computers and mobile phones to smart kitchen appliances and digital children’s toys. 

The proposed legislation, which was unveiled by the European Commission earlier in September, mandates that products are designed, developed and produced in ways that mitigate cybers ecurity risks. 

"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 the supply chain,” said Thierry Breton, the EU’s commissioner for the internal market. This includes requirements to sell products in a secure default configuration, to maintain a thorough product identification system and to ensure that exploitable vulnerabilities can be addressed through security updates, among other cybercrime disclosure rules. 

The number of personal devices that are connected to the internet has grown significantly. Yet many of these so-called Internet of Things (IoT) products are highly vulnerable to hackers and cybercrime.

In fact, ransomware attacks occur worldwide every 11 seconds and cost the global economy an estimated €20 billion last year, according to the EU. Meanwhile, DDoS attacks, malicious efforts to disrupt or cut off access to Internet services or websites, costs the EU econmy roughly €65 billion in 2020. In Belgium, for example, nearly 1,000 businesses were hit by cybercrimes in 202, a 300% increase compared to the year prior, according to an analysis by Mastercard. The majority of cyber attacks entailed malware and ransomware strikes. 

“We deserve to feel safe with the products we buy in the single market... The Cyber Resilience Act will ensure the connected objects and software we buy comply with strong cybersecurity safeguards.”  said Margrethe Vestager, Executive Vice President of the European Commission for the Digital Age.

WEF:      WEF:     Mastercard

You Might Also Read: 

New Cyber Security Laws For Telecoms Providers:

 



  

« Cyber Security Solutions Driven By Artificial Intelligence Are In Demand
Biden Signs EU / US Data Privacy Framework »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

Cyber Security Supplier Directory

Cyber Security Supplier Directory

Our Supplier Directory lists 6,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

Resecurity, Inc.

Resecurity, Inc.

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

Arxan Technologies

Arxan Technologies

Arxan is a leader of application attack-prevention and self-protection products for Internet of Things (IoT), Mobile, Desktop, and other applications.

CloudCodes Software

CloudCodes Software

CloudCodes is a cloud security solutions provider focused on providing cloud security solutions to enterprise customers.

NDIA - Cyber Division

NDIA - Cyber Division

NDIA Cyber division’s contributes to US national security by promoting interaction between the cyber defense industry, government and military.

Clavister

Clavister

Clavister is a network security vendor delivering a full range of network security solutions for both physical and virtualized environments.

AVL Mobile Security

AVL Mobile Security

AVL Mobile Security is a market-leading mobile security company for anti-virus and threat intelligence in the mobile Internet.

Shinobi Cyber

Shinobi Cyber

Shinobi Defense System is an integrated security system that absolutely secures information with smart, automatic encryption and protects your endpoints by stopping any unauthorized actions.

Fraugster

Fraugster

Fraugster provides the most precise anti-fraud solution for e-commerce businesses.

Fugue

Fugue

Fugue ensures cloud infrastructure stays in continuous compliance with enterprise security policies.

Cyscale

Cyscale

Cyscale is a consultancy and development agency helping Enterprises adopt and migrate to the Cloud by providing an Automated Cloud Security Platform.

Webtotem

Webtotem

Webtotem's mission is to prevent the global epidemic of website infection and provide every website owner with basic security rights.

TeraByte

TeraByte

TeraByte is an information security company which helps to educate and protect businesses from cyber security related risks.

IT Jobs Watch

IT Jobs Watch

IT Jobs Watch provides a concise and accurate map of the prevailing IT job market conditions in the UK.

Elemental Cyber Security

Elemental Cyber Security

Elemental is a game changing cyber security compliance automation and enforcement technology provider.

InCyber

InCyber

InCyber's mission is to defend enterprises against Insider Threats and/or those who are impersonating Insider credentials such as Hackers, Terrorists, and Malware.

CWSI

CWSI

CWSI provide a full suite of enterprise mobility, security and productivity solutions to many of Ireland and the UK’s most respected organisations across a wide range of industry and public sectors.

Enginsight

Enginsight

Enginsight provides a comprehensive solution for monitoring and securing your servers and clients.